Constellation acquires Flagstone
News today is that Bruce Jack's Flagstone winery has been acquired by the world's largest wine company, Constellation.
Jack will stay on, and will oversee viticulture and winemaking with all of Constellation's South African interests, primarily the Kumala brand (which last year they acquired from Western Wines, and which accounts for almost a quarter of South African wine sold in the UK).
The press release includes the following corporate-speak:
Troy Christensen, President of Constellation Europe, said: “We are delighted to have reached agreement leading to the proposed purchase such a renowned wine company and to secure the wine making skills and expertise of Bruce Jack and his team.
“I believe that the South African wine industry offers a huge opportunity for Constellation Europe to drive sales, generate profit and enhance its corporate image.
“A major challenge for the UK industry is to build the value of the wine category through a greater focus on developing premium brands and delivering high quality for consumers.
“The proposed purchase of such a high-profile South African wine-making company and its dynamic portfolio of wines will mean that we have a credible premium-orientated portfolio to spearhead the development of South African wine in the UK and across Europe.
“Flagstone will help to take the South African category to another level of success by providing an incentive for the wine trade to ‘premiumise’ their wine business and by
encouraging more shoppers to trade up to better quality more often.”
Labels: south africa