The Pernod Ricard team were in London today (February 18) to flesh on the bones for their half year interim results which were announced last week.
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."