Constellation Brands has agreed to acquire California-based Prisoner Wine Company’s portfolio of brands in a deal thought to be worth $285m, and which will significantly strengthen its position in the area of high-end wines.
The portfolio being acquired by Constellation includes five fine wine brands led by The Prisoner – a fast growing luxury wine – and encompassing the Saldo, Cuttings, Blindfold and Thorn brands.
They are being sold by fine wine company Huneeus Vintners, with the transaction expected to close by the end of April.
“More than ever, consumers are seeking high-quality, distinctive wines and the portfolio we are acquiring from The Prisoner Wine Company delivers,” said Bill Newlands, president of the wine and spirits division of Constellation Brands. “Huneeus Vintners is known for building luxury wine brands and excels in growing gems and turning them into powerhouse brands. These wines resonate with consumers and this acquisition further strengthens our position in the fine wine segment of the category.”
“Huneeus Vintners and Constellation have a strong history of respect and success working together,” said Huneeus Vintners owner Agustin Francisco Huneeus. “Our team – including employees, growers, distributors, and winery partners – has created and built an exceptional portfolio of fine wines and we are very proud of the success they have achieved in a relatively short timeframe. Constellation’s market reach, business intelligence and access to high-quality grapes, will enable the brands’ continued growth momentum.”
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