Constellation Brands acquires Mark West wine
Constellation Brands Inc., Victor, N.Y., completed its acquisition of the Mark West wine brand from Purple Wine Co. LLC for approximately $160 million. The transaction includes the Mark West trademark, certain grape supply contracts and inventories of wines including a Chardonnay, a California Pinot Noir, a Russian River Reserve Pinot Noir and a Santa Lucia Reserve Pinot Noir.
Achieving 35 percent volume growth in the last 12 weeks according to SymphonyIRI, Mark West Pinot Noir is one of the nation’s best-selling Pinot Noir wines and a leader in wine priced $10 to $12 at retail, the company says. Its recent success caps 10 years of double-digit growth for the brand, which has grown into a nearly 600,000-case brand sold primarily in the United States.
“Mark West is one of the fastest-growing major Pinot Noirs in the market and has exceeded the growth of the category,” said Rob Sands, chief executive officer of Constellation Brands, in a statement. “The brand is an exciting addition and fills a gap in our portfolio of Pinot Noir brands.”