Henkell Freixenet has offloaded UK wine merchant Jascots to Italian food-and-drinks group Compagnia del Gusto Holding.
Jascots, set up in 1990, supplies the UK on-trade, with the majority of its customers in London and south-east England.
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The Cava giant, which is also home to wine brands including I Heart and Bolney, has owned Jascots since 2020 when it acquired the business from administrators.
In a statement, Freixenet Copestick, Henkell Freixenet’s UK distribution arm, said it had formed a “strategic partnership” with Compagnia del Gusto Holding (CDGH) “to strengthen their premium wine distribution capabilities across the UK on-trade sector”.
CDGH will continue to distribute the range of wines sold through Jascots and use its new asset to push its Italian wine and food portfolio in the UK.
Damian Clarke, the MD Freixenet Copestick and CSO of Henkell Freixenet, said: “We are proud of what has been achieved with Jascots Wine Merchants since we acquired it in 2020. This partnership with Compagnia del Gusto Holding will ensure business continuity and new development opportunities for the team and our customers.”
Asked how many staff are moving to CDGH, Freixenet Copestick said: “Our priority is to ensure a smooth and responsible transition for everyone involved. As part of the transaction, colleagues whose roles are dedicated to the Jascots business will transition to the new company, with a clear focus on ensuring continuity and supporting them responsibly throughout the process.”
The company added: “For customers and suppliers, the focus is firmly on continuity: Jascots will continue to operate as a specialist premium on-trade wine merchant, supported by its experienced team and established relationships.”
Ettore Nicoletto, the CEO of CDGH, described the deal as “a key milestone in our international growth strategy”.
He added: “The UK is a strategic market for premium Italian wines and with Jascots we gain a solid distribution platform, an experienced team and deep expertise in the on-trade. We look forward to bringing the best of our Italian portfolio to such a prestigious customer base.”
Henkell Freixenet is in talks to buy France-based wine and Champagne group Maison Pommery & Associés.
Maison Pommery operates in the Champagne, Provence and Camargue regions of France, as well as in Portugal’s Douro Valley.
