GERMANY: Racke sells spirits and sparkling wines
The German based Racke Group is to sell its sparkling wine and spirits business to the German company Henkell & Söhnlein. The sale excludes the POTT Premium Rum brand, which will remain in the hands of Racke.
A price for the deal was not divulged.
The disposal by Racke is part of efforts to focus purely on wine.
"Our core strategy is the further internationalisation of our wine brands. We are aiming to be the competent business partner in terms of wines of all price categories." stated Marcus Moller-Racke, shareholder and chairman of the executive board of the Racke Group.
The representative building of Kupferberg in Mainz, better known as the Kupferberg Terrace, will further remain in the possession of Racke.
The capital generated with this sale will be used by Racke to further extend its national and international wine business, the company said, including the development of new brands as well as acquisitions.
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