Constellation Brands is now 100 percent owner of the celebrated Italian brand Ruffino. The 50 million euro (approximately $69 million) deal gives an additional 50.1 percent of Ruffino to the world’s leading premium wine company. Constellation had already purchased 49.9 percent of Ruffino back in 2010.
“The core identity of Ruffino will remain the same,” says outgoing Ruffino Managing Director Adolfo Folonari. “I am confident that Constellation will leverage its global best practices to take the Ruffino brand to a new level, while carefully preserving the heritage of the wines.” Mr. Folonari will remain on the Ruffino board of directors.
Ruffino makes 1.3 million cases of wine each year, half of which are sold in the US by Constellation Brands. The estate farms some 1,500 acres in Tuscany. Ruffino’s US sales are up 8 percent in 2011.
Constellation Bands was founded in 1945 and its brands include Robert Mondavi, Clos du Bois, Blackstone, Ravenswood, Kim Crawford, Corona Extra and SVEDKA Vodka among others.