Constellation Brands Inc., Victor, N.Y., announced that it has agreed to acquire the Meiomi wine brand from Copper Cane LLC, a Joseph Wagner controlled company. The transaction is expected to close by the beginning of August, the companies say.
Since its inception in 2006, Meiomi has quickly positioned itself as a leader in the U.S. wine industry as a differentiated, high-growth luxury brand, outperforming all other brands in its category with IRI dollar sales growth of more than 50 percent over the last 52 weeks, the companies note. Meiomi Pinot Noir also is among the fastest growing major pinot noir brands across all price points in the latest 12-week period, according to a press release. Constellation Brands has a successful track record of integrating high-growth brands into its portfolio and accelerating their strong marketplace momentum, the companies say.
“Meiomi complements the array of selections we offer consumers by filling a niche in our luxury portfolio,” said Jay Wright, president of Wine and Spirits at Constellation Brands, in a statement. “The rapid growth rate Meiomi has achieved in such a short time is evidence that the brand resonates with consumers, and we’re excited about adding it to our wine portfolio.”
Wagner, a fifth-generation California winemaker, will maintain a winemaker consultant role for the next two vintages. “We are very proud of what our team and organization have accomplished with Meiomi in a relatively short timeframe,” Wagner said. “What began as a labor of love with only modest distribution a number of years ago has grown to become one of the best-performing and fastest-growing brands across all categories of wine. We are pleased to have found such a great successor with which to carry on the Meiomi tradition.”
Meiomi appeals to a broad range of consumers and is known for its vibrant, food-friendly wines that are ready to drink upon release for any occasion, the companies state. Meiomi wine is richly flavored, well-balanced and stylish, with layers of complexity created from a blend of California’s preeminent pinot noir coastal regions - Sonoma County, Monterey County and Santa Barbara County, the companies say. Drawing on the success of its pinot noir, Meiomi introduced chardonnay to its portfolio in spring 2014.
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