Eric Jensen, Booker Vineyard’s founder and winemaker
Constellation Brands has purchased a minority stake in Booker Vineyard for an undisclosed sum, in an agreement which it claims offers potential for majority ownership in the future.
The deal will see Constellation invest in Booker Vineyard’s premium direct-to-consumer (DTC) focused portfolio of Paso Robles, California wines.
It comes a few weeks after Constellation announced that it is acquiring wine brand and DTC platform Empathy Wines and similarly aligns with the company’s “long-term aspirations to lead the category in DTC and 3-tier ecommerce” and strengthen its fine wine portfolio.
As part of the agreement, Constellation will also support Booker Vineyard in expanding the distribution for its wholesale, Cabernet Sauvignon-based My Favorite Neighbor and Harvey & Harriet wines, in the US.
The acquisition reportedly complements Constellation’s Tru Fine Wine portfolio, which includes Schrader Cellars, The Prisoner Wine Company and Ruffino Estates, among others.
“We are pleased to partner with Booker Vineyard as we continue to drive our vision to be a bold and innovative, high-end wine and spirits portfolio that delivers exceptional consumer experiences,” said Robert Hanson, president of wine and spirits at Constellation Brands.
He added: “We look forward to working closely with the Booker Vineyard team to help them strategically expand their distribution and build their My Favorite Neighbor and Harvey & Harriet brands with consumers, while leveraging their unique expertise and capabilities to accelerate our leadership.”
Founded in 2005, Booker Vineyard produces ‘luxury’ Rhône varieties priced from$30 to $165 per bottle, which are sold primarily through its DTC channel.
Eric Jensen, Booker Vineyard’s founder and winemaker, said: “With this partnership, we will reap the benefits of Constellation’s brand building and sales expertise, plus its leading network to help us grow our business in ways I can’t on my own.”
© FoodBev Media Ltd 2020
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