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May 30, 2022 View:

US-based Constellation Group acquires minority stake in Booker Vineyards

American Constellation Group has recently acquired a minority stake in Château Bucer, located in the Paso Robles appellation, which is expected to become the future majority owner under the agreement.

Image from: Internet

Under the agreement, Constellation invested in Booker Vineyards" premium, direct-to-consumer wine portfolio, but also helped Constellation expand its wholesale distribution network in the United States for its major Cabernet Sauvignon brands, My Favourite Neighbor and Harvey Harriet wines.

Founded in 2005, Château Bucer is a winery specializing in Rhone Valley wines ranging from $30 to $165 per bottle, sold through its wine club and directly to consumers.

The Booker Vineyards My Favourite Neighbor wine label, named after Laventure's Stephan Asseo, was initially made only from grapes grown at Booker Vineyards, but it has expanded since 2016. The label includes a range of wines, including Harvey Harriet, named after founder Eric Jensen's parents.

According to the statement, Jensen will continue to lead the team at Booker Vineyards following the acquisition by Constellation Group. Financial terms of the deal have not been disclosed to the public.

Robert Hanson, President of Constellation Brands' Wine and Spirits Division, said:Eric Jensen and the team at Château Bucer have built a very high quality Rhone Valley wine in the Paso Robles AVA. In doing so, they have built an impressive direct-to-consumer business and an exciting growth pipeline that is consistent with our long-term vision in the direct-to-consumer business and tertiary e-commerce space.