Constellation Brands has completed the acquisition of the Mark West wine brand from Purple Wine Company for approximately $160m.
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
- 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% volume growth rate in the last 12 weeks according to SymphonyIRI, is the nation's best-selling pinot noir and a leader in wine priced $10-$12 at retail.
Source: Constellation Brands
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