Campari sells Chile’s Lapostolle winery
Gruppo Campari has sold Chile’s Lapostolle winery back to its founder for €30 million, as it continues to divest its interests in the still wine business.
The company agreed to buy French spirits producer Société des Produits Marnier Lapostolle (SPML) – the makers of Grand Marnier – for €684 million ($760m), in June of last year. Its purchase was described by Campari as a “friendly takeover” and the group acquired the company’s Chilean portfolio of wines and pisco under the Lapostolle brand, as well as Grand Marnier Cordon Rouge, Cherry Marnier, Louis Alexandre, Cuvée du Centenaire, Cuvée du Cent Cinquantenaire and Quintessence.
However the company has now confirmed that it will be disposing of the Lapostolle brand with the sale of Marnier Investissments S.A. to Alexandra Marnier Lapostolle – the winery’s founder – effectively selling the brand back to the Lapostolle family.
The sale includes wines and pisco sold under the ‘Lapostolle’ brand, as well as its vineyards, vinification and production plants, inventory, real estate assets and the hospitality operations in Chile ‘Lapostolle Residence’.
The Lapostolle winery, located in the Santa Cruz region, was founded in 1994 by Alexandra Marnier Lapostolle and today comprises 370 hectares across three different vineyards planted with Sauvignon Blanc, Chardonnay, Cabernet Sauvignon, Merlot, Carmenère and Syrah. Its portfolio includes Clos Apalta 2005, which was ranked first in the Top 100 of Wine Spectator in 2008.
Gruppo Campari’s sale of the Lapostolle brand confirms the company’s commitment to fully exiting the still wine business, and follows the sale of its Italian wineries in November to the Terra Moretti group – its Sardinian estate, Azienda Vinicola Tenute Sella & Mosca, and Tuscan estate Teruzzi & Puthod – for a total of €62m.
“With this transaction Gruppo Campari confirms its commitment to fully exit the still wine business, continue to streamline its non-core activities and increase its focus on the core spirits business,” said Bob Kunze-Concewitz, CEO of Gruppo Campari. ” Since the beginning of 2016 we have divested non-core assets for a total value of € 96 million.”
Gruppo Campari’s brands include Aperol, Jamaican rum Appleton Estate, Campari, SKYY vodka, Wild Turkey bourbon and Grand Marnier. The Group was founded in 1860 and today is the sixth-largest player worldwide in the premium spirits industry.