GERMANY: Racke ups German on-trade presence with acquisition
The Racke Group has acquired DC Gesellschaft für Weinimporte in Germany from WIV Wein International AG, through its Eggers & Franke wine distribution unit.
The company said yesterday (16 February) that the on-trade wine importer will be merged with Eggers & Franke's on-trade subsidiary in the country, Reidemeister & Ulrichs. Financial details behind the transaction, which completed at the beginning of this month, were not disclosed.
The acquisition of DC adds almost EUR10m (US$12.6m) in sales to the Bremen-based group of importers, strengthening its positon in the HORECA sector, Racke said.
The commercial director of DC, Klaus Kneib, will join the management of Reidemeister & Ulrichs.
"DC will add a lot of competence and manpower in sales to the on-trade and notably the hotel sector," said Stephan Meier managing director of Reidemeister & Ulrichs.
Earlier this year, Racke merged with Cecchetti Wine Company in the US to form Cecchetti-Racke in the country. Over the past decade, Racke has expanded beyond its traditional branded goods business into joint ventures with super-premium wine producers from New World countries including South Africa, Chile and Australia as well as formed partnerships in Italy.
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