US: Saint James Company to acquire Gravitas Wines
The Samson Acquisition Company has lined up the purchase of New Zealand wine producer Gravitas Wines.
The company, which itself is set to be acquired by US wine firm The Saint James Company, said yesterday (27 May) that the transaction, for an undisclosed sum, is subject to standard finance, due diligence and closing conditions.
"New Zealand wines are growing rapidly in markets around the world, and continue to command a premium price," said a spokesperson for Saint James. "Gravitas wines will be among the most premium of our New Zealand portfolio - the quality of the wines is exceptional."
Located in New Zealand's Marlborough viticultural region, Gravitas exports to around 20 countries.
The Saint James Company specialises in the acquisition and distribution of New World wines, and has recently signed an agreement for the rights to Olivia Newton John's Koala Blue wine brand in North America.
Earlier this year, Saint James said it is preparing to acquire two more New Zealand wineries, Lawson Dry Hills and Waimea Estates.
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