Campari Abandons Still Wine, Sells French Château for Nearly $23 Million

Move means Campari will concentrate on liqueurs and spirits.
Château de Sancerre
Gruppo Campari said it reached a deal Monday to sell its French Château de Sancerre wine business for $22.9 million (€20.5 million)) to Maison Ackerman, the wine division of Terrena, a French agricultural and food cooperative.

Château de Sancerre, which had total sales of $3.9 million (€3.5 million) last year, includes the inventory as well as the buildings, vineyards and vinification plants, Campari said in a press release.

“With the disposal of the Sancerre winery, which follows the sale of the Italian and the Chilean still wine businesses, finalized over the last year, Gruppo Campari fully exits the still wine business…increasing its focus on the core spirits business,” Gruppo Campari CEO Bob Kunze-Concewitz said.

Campari, in addition to its eponymous brand, also owns Aperol, SKYY Vodka, Wild Turkey and Grand Marnier.

The Château de Sancerre vineyards span 136 acres (55 hectares) in the Loire Valley. The sale has already been approved by one local body, SAFER, but needs final administrative authorization.

“Since the beginning of 2016,” Kunze-Concewitz said, “we have divested non-core assets for a total value of approximately €117 million ($131 million).”

Yealands Keeps The Brand But Sells Crossroads Winery

New Zealand’s Yealands Family Wines, which usually gets press for its environmental initiatives, is getting ink today because it announced the sale of The Crossroads Winery in Hawke’s Bay, New Zealand. Crossroads has been making wines for 25 years–the last six under the ownership of Yealands. The winery, which focuses on small parcel, boutique wines, has been trying to expand the brand globally, according to the press release.

Neither the name of the buyer, nor price paid for the winery were mentioned in the press release. Yealands kept the brand name. Emails to Yealands, based in Marlborough, were not immediately returned.

Founder Peter Yealands brought Babydoll sheep to New Zealand so he could cut his fuel bills running tractors and putting fertilizer down at the same time. He then added Kunekune pigs when the sheep were not quite up to the task on their own. Last year, he installed that country’s largest solar panel array (1,314 panels) to power the operation. Yealands says it aims to produce the most sustainable wine in the world.

Published on June 13, 2017
Topics: Latest News

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