Constellation acquires Mark West for $160m

18 July, 2012

Constellation Brands has completed the acquisition of the Mark West wine brand from Purple Wine Company for approximately US$160 million.

The transaction includes the Mark West trademark, certain grape supply contracts and inventories of wines from California appellations: a California pinot noir, a Russian River reserve pinot noir and a Santa Lucia reserve pinot noir, along with a chardonnay. Constellation Brands announced its intent to purchase the brand last month.

Mark West pinot noir, with a 35 percent volume growth rate in the last 12 weeks according to SymphonyIRI, is said to be the “nation's best-selling pinot noir and a leader in wine priced $10-$12 at retail”.

Mark West is an almost 600,000-case brand sold primarily in the US.

Rob Sands, chief executive officer, Constellation Brands said: "Mark West is one of the fastest-growing major pinot noirs in the market and has exceeded the growth of the category.

“The brand is an exciting addition and fills a gap in our portfolio of pinot noir brands."

Keywords: pinot noir




Comment

Menezes upbeat

Despite some gloomy reactions among city analysts to Diageo’s full year results to June 2015, chief executive Ivan Menezes was very upbeat at his briefing to journalists and city analysts in a top London restaurant today (July 30).

Click for more »

Events

Facebook

Twitter