Wine giant Viña Concha y Toro has struck a deal to acquire a majority of French peer Maison Mirabeau.
The deal has been executed through VCT Europe, Viña Concha y Toro’s subsidiary covering the UK, Ireland, mainland Europe and the Nordic countries.
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The size of the stake acquired and other financial terms were not disclosed.
Concha y Toro did not directly address whether there would be redundancies because of the acquisition.
For now, customers and suppliers will continue to be served by the respective Mirabeau and VCT Europe teams, according to a joint statement yesterday (3 February).
Concha y Toro also confirmed it will honour the existing global distribution deals for the Provence rosé producer, while using its network to develop new markets.
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By GlobalDataMaison Mirabeau sells to more than 40 markets worldwide.
The transaction remains subject to regulatory approval.
Eduardo Guilisasti, Viña Concha y Toro’s CEO, described the deal as “much more than a strategic investment”.
“We are confident that Viña Concha y Toro’s global distribution network will enable the essence and quality of Maison Mirabeau to reach new markets and consumers, expanding its international recognition while preserving its unique identity.”
Maison Mirabeau was founded in 2010 by Stephen and Jeany Cronk.
Stephen Cronk will stay on as CEO. “Joining the Concha y Toro family marks an extraordinary new chapter, one that enables us not only to accelerate our commercial momentum, but also to fast-track our environmental objectives and move closer to becoming a truly planet positive business,” he said.
He will join Simon Doyle, general manager of VCT Europe, and VCT Europe finance and operations director Andrea Mirone on a newly formed board of directors for the brand.
Jeany Cronk will stay on as brand representative and creative advisor. She will also maintain her role co-presiding the marketing commission at the Wines of Provence.
According to Doyle, the two businesses have “strong strategic synergies”.
“Maison Mirabeau is a very impressive wine business whose strengths clearly complement our own. We share common values, a clear vision for the future, and a deep commitment to quality and to sustainability.”
VCT Europe manages brands including Casillero del Diablo, Trivento and Diablo across retail, wholesale and the on-trade.
