The biggest drinks acquisitions of 2025

This year has seen titans of the drinks world buying and selling companies, brands and estates. We’ve rounded up the most headline-grabbing acquisitions of 2025 here.

Last year was a busy one for drinks acquisitions with Campari buying Courvoisier, Butterfly Equity snapping up California’s The Duckhorn Portfolio, and Domaines Barons de Rothschild (Lafite) purchasing Burgundy producer William Fèvre, to name just a few.

However, 2024 can’t hold a torch to the mega deals struck in 2025 between some of the biggest players in the industry. Some companies offloaded numerous brands all at once, while others set their sights on a single ‘golden goose’, hoping it would secure the future of their business for years to come.

Below you’ll find the most noteworthy acquisitions of 2025, listed in chronological order, which have left the drinks landscape looking markedly different at the end of the year than it did at the start.

Benchmark Wine Group acquires Wine Spectrum

On 7 January, Benchmark Wine Group, the biggest fine and rare wine retailer in the US, kicked off the acquisition trail when it acquired Sonoma-based retailer Wine Spectrum, Inc. Why was this move so significant? Benchmark is known for its extensive inventory of back-vintages, while Wine Spectrum has a reputation for sourcing new wine releases at the top level, meaning that the merger combined the best of old and new for fine wine enthusiasts, collectors and restaurant owners.

“By consolidating, we’re creating a powerhouse of rare wine expertise and customer-focused services,” David Parker, owner and CEO of Benchmark Wine Group, told db. “Together, we’ll expand product access, enhance operational efficiencies, and provide unparalleled service to our clients.”

Glenn Siegel, president of Wine Spectrum, highlighted the retailer’s legacy of “personal, relationship-driven sales”, which in tandem with Benchmark’s “high-energy management style” would drive the two forward into a new chapter, he said.

According to Benchmark, the biggest boon for fine wine fans is the combined product access across the cellars of the two, with a unified online platform allowing customers to view and buy wines from both companies in one place.

The acquisition clearly paid off, as evidenced through Benchmark’s “record-breaking” third quarter financials in 2025.

Pernod Ricard and Accolade merge wine interests to become Vinarchy

In April, the newly named Vinarchy absorbed global wine brands from Pernod Ricard and debt-laden Accolade, including Jacob’s Creek and Campo Viejo. The full list of brands Vinarchy acquired is as follows: Jacob’s Creek, Orlando and St Hugo in Australia, Brancott Estate, Stoneleigh and Church Road in New Zealand and Campo Viejo, Ysios, Tarsus and Azpilicueta from Spain.

The mega deal saw Vinarchy inherit a portfolio exceeding 10 million 9-litre case equivalents annually. On Pernod Ricard’s end, the French company said the move would help it to “focus on premium international spirits and Champagne brands, driving future growth of its business.”

Then in November, Vinarchy revealed it plans to axe more than 60 wine brands (almost half its portfolio) over the next two years in a bid to streamline its business and focus on younger consumers through lower-alcohol products and smaller formats. Danny Celoni, chief executive of Vinarchy, said that the company has too many brands and needs to focus its efforts on Hardys, Jacob’s Creek and Campo Viejo, the three brands with the most global recognition.

Majestic buys Enotria & Coe

Wine specialist Majestic officially completed its acquisition of Enotria & Coe (now simply called Enotria) on 15 April, establishing the Majestic Group as the UK’s largest premium wine specialist in retail, wholesale and hospitality. The acquisition included all of Enotria & Coe’s 300 colleagues, its fleet of delivery vehicles and inventory, as well as the leases on its bonded warehouse and offices in Park Royal and The Great Wine Co store in Bath.

The move was rooted in Majestic’s focus on the on-trade, a segment where its commercial division has already recorded double-digit growth for three consecutive years. Majestic is not shy in advertising its ambition to become “the go-to supplier of wines, beers and spirits in the UK on-trade”.

Meanwhile, Enotria & Coe had established one of the most comprehensive and exclusive ranges of premium wines and spirits of any distributor in the UK, working with a diverse range of more than 300 producers. It supplies a host of premium restaurants, hotels and hospitality venues, including Gaucho, Rick Stein, Hotel du Vin/Malmaison and Bancone.

Majestic CEO John Colley said, “This is a landmark day in the history of Majestic” and “a huge statement of our intent in this market.”

Continuing, he added: “Having competed against Enotria & Coe for a number of years, we have first-hand experience of just how compelling and attractive their proposition is in the on-trade. We are incredibly excited about the opportunities we have to develop that further, win a greater share of the UK market and drive profitable growth.”

Constellation Brands seals the deal with The Wine Group

After entering into an agreement to divest itself of six of its wine brands earlier this year, drinks giant Constellation Brands confirmed the deal’s completion in June.

The Wine Group agreed to acquire the Woodbridge, Meiomi, Robert Mondavi Private Selection, Cook’s, SIMI, and J. Rogét brands from Constellation, as well as three facilities in California and almost-3,000 hectares of vineyard. Brands already owned by The Wine Group, which is headquartered in California, include Love Noir, The Dreaming Tree, Franzia and Benso Del Solo Sangria.

With the sale now completed, Constellation Brands has said that as far as its wine portfolio is concerned, the focus is on “higher-end” brands.

President and CEO Bill Newlands said: “We are pleased to have completed this transaction and look forward to executing against our repositioned portfolio, focused exclusively on the higher-end that more closely aligns to consumer-led premiumisation trends which we believe will enable us to help deliver improved performance within this segment of our business over time.”

Among the brands which Constellation has retained are the likes of Robert Mondavi Winery and Schrader in Napa Valley, New Zealand Sauvignon Blanc producer Kim Crawford, and Tuscan and Prosecco powerhouse Ruffino.

Campari offloads Cinzano and Frattina in €100m deal

Also in June, Campari sold for €100m (£85.3m) the Cinzano vermouth brand, plus the Frattina grappa and sparkling wine business, to the Italian Caffo Group 1915, which is best known for Vecchio Amaro del Capo bitters.

Campari Milano’s chief executive, Simon Hunt said the sale marked “a key step in our strategy of streamlining our portfolio via disposals, allowing us to increase our commercial and marketing focus on our key core brands”.

It presumably also went some way to reducing Campari’s heavy debt burden following the purchase of Courvoisier Cognac from Suntory for US$1.2 billion.

Sebastiano Caffo, CEO of Caffo Group 1915, said the deal was “an important step in our international growth journey….We have a long journey ahead. Cinzano will be pivotal to accelerate our international expansion, expanding immediately our footprint in more than 100 markets.”

Jeroboams acquires Hayward Bros.

The August deal enveloped one of the UK’s most respected family-run wholesale-led wine businesses into the Jeroboams Group, and marked a significant strengthening of Jeroboams’ national trade presence, adding more than 80 producers to its portfolio. These include Maison Jean Loron, Maison Jaffelin and Kopke Port, which joined existing Jeroboams brands Moss Wood, Achaval Ferrer and Hunter’s.

Matt Tipping, CEO at Jeroboams, said the acquisition “significantly expands our national capabilities, brings new producers into our portfolio and reinforces our position as the UK’s leading independent fine wine merchant”, adding that in the group’s 40th year, the move “provides the Jeroboams Group with a strong foundation for growth”.

Meanwhile, Robert Hayward, managing director at Hayward Bros, said the agreement marked “a new era” for the team, customers and suppliers. “We are proud of what we have built over the years, and joining the Jeroboams family ensures that legacy continues,” he said. “Both businesses share a deep respect for producers, a strong service ethos and a commitment to doing things the right way.”

GFI Investment Fund buys Château de La Rivière

Also in August, one of the most prominent estates in the Fronsac appellation of Bordeaux was acquired by Luxembourg-based GFI Investment Fund, marking GFI’s first move into the wine sector. Prior to this, the château had been Chinese-owned for more than a decade. The private equity fund is managed by international investment management firm the Signet Group, which has offices in London, Zurich, Cyprus, and Abu Dhabi.

The 100ha Château de La Rivière estate has 65 ha of vines, the majority red varieties, primarily Merlot (accounting for 84% of its red varieties), with Cabernet Franc (8%), Cabernet Sauvignon (6%), and Malbec, while 2.15ha are planted with Sauvignon Blanc and Sauvignon Gris. It also has 8ha (25km) of galleried wine cellars that were dug in the 19th century. Around 40% of the vines are aged 40 years or older.

Following the acquisition, GFI appointed Sébastien Long, formerly head of supply strategy and business development EMEA at Treasury Wine Estates, as president.

The estate’s director, Xavier Buffo, who has been in the role since 1997, said he was very pleased to welcome the new investors, adding that they would “bring fresh momentum and the resources to build on what we’ve started, with a clear vision for modernising our production and accelerating sales.”

California’s The Overshine Collective buys Reeve Wines and Martha Stoumen Wines

The Overshine Collective, founded by former Google exec David Drummond, expanded its Californian footprint in August when it snapped up two Sonoma wineries, leading to speculation that it intends to become a bigger fish in the region. Prior to these recent acquisitions, Overshine already owned two Mendocino wineries – Armida Winery (renamed as Overshine Wines) and Idlewild Wines, along with Comunita Wines in Healdsburg.

Reeve, also in Healdsburg, produces Riesling, Chardonnay, Pinot Noir, Sangiovese and more, and boasts a tasting room on its 55-acre estate. Meanwhile, Martha Stoumen has built a reputation for its natural wines and produces around 7,000 cases per year with Carignan, Nero d’Avola, Vermentino and Rousanne all part of its toolbox.

However, what makes this acquisition unique is the pattern emerging of Overshine encouraging the wineries it buys to maintain creative freedom with regards to winemaking, while accounting, compliance and distribution is all centralised. Overshine has hinted that in future its brands could end up all sharing a single winemaking facility. “All of the collective’s partners are deeply involved and have a stake in the outcome of the business,” Drummond said.

Lanson-BCC seals €50m Heidsieck-Monopole takeover

In October, Lanson-BCC finalised its €50 million acquisition of Champagne house Heidsieck & Co Monopole, with the deal set to complete on 1 January 2026. The agreement includes the brand’s vintage stock and marks a major shift in the competitive Champagne landscape.

Following completion of the sale, Lanson-BCC will own 100% of the shares of Heidsieck & Co Monopole, as well as the historic vintage stock of the house, among which are bottles from 1907 recovered from the wreck of the Jönköping sunk in the Baltic, plus the transfer of product stock that was “already packaged under the Heidsieck & Co Monopole brand at the time of the final completion of the operation”, which is likely to be the end of 2025.

The agreement supersedes the deal announced in early June, whereby Compagnie Vranken was set to acquire the Heidsieck & Co Monopole business as part of the wider Vranken-Pommery Monopole (VPM) group’s debt reduction strategy.

Les Grands Chais de France acquires Maison Bouey

Also in October, Les Grands Chais de France (GCF) finalised its acquisition of Bordeaux trading house Maison Bouey – one of the last family-owned and independent houses in Bordeaux. The deal bolstered the Alsace-based company’s presence in Bordeaux by allowing it to draw on the experience and heritage of Maison Bouey, while the traditional Bordeaux house is now able to tap into the larger wine group’s international resources.

Yann Bouey, commercial director of Maison Bouey, called the merger “a great opportunity for Maison Bouey and for the Bordeaux appellations. We are proud to preserve our identity and family history while benefiting from a new impetus for the future.”

Meanwhile Jean-Raymond Clarenc, director of CDF, said the deal was part of establishing a long-term dynamic in the region. “Together, we will write a new page of development and influence for Bordeaux,” he said.

Les Grand Chais de France currently has 900 hectares of vineyards across Bordeaux’s appellations including Pomerol (Clos Beauregard), Saint-Émilion (Chateau Cantin), Sauternes (Chateau Bastor-Lamontagne), Margaux (Chateau la Fortune), and Haut-Médoc (Chateau du Cartillon), along with its key brands Calvet, Dulong, Cruse, Louis Eschenauer and Alexis Lichine.

Coterie Group acquires Hong Kong’s Links Concept

In November, Coterie, which owns UK merchants Lay & Wheeler and Hallgarten & Novum Wines, acquired Hong Kong merchant Links Concept.

Led by CEO Michael Saunders, Coterie also operates bonded storage facilities through Coterie Vaults, wine lending services via Jera Wine, and supplies the superyacht sector via Global Wine Solutions (GWS).

Saunders said Links Concept’s “deep knowledge of the Hong Kong and China markets makes them an ideal partner”, noting that the acquisition “strengthens our international footprint and allows us to offer even greater opportunities for the family-owned wineries we represent.”

Alice de La Fuente Saez, director, and Jermann Lai, managing director of Links Concept Family Wine Merchants, said of the deal: “For more than 25 years we have worked to introduce some of the world’s most exciting producers to Hong Kong and beyond. Joining Coterie gives us the resources and global reach to take that mission further while staying true to our values of quality and partnership. We are excited to begin this next chapter together.”

For the lowdown on last year’s buying and selling activity check out db’s round-up of the biggest drinks acquisitions of 2024.

The Wyckoff Family buys Ste. Michelle Wine Estates

In the first week of December, the Wyckoffs, which own vineyards across Washington, announced they had purchased all wine brands, facilities and vineyards belonging to wine giant Ste. Michelle.

Wyckoff has supplied Ste. Michelle with grapes since the 1980s and leapt at the chance to buy the respected Washington wine company from private equity firm Sycamore Partners. While financials have not been disclosed, when Sycamore bought Ste. Michelle in 2021 from US Tobacco for US$1.2 billion, it became the largest private equity purchase of a US wine company in history.

Included in the Wyckoff deal are all of Ste. Michelle’s wine brands, including Chateau Ste. Michelle, 14 Hands, Columbia Crest, Liquid Light, Estival, Ethos, Spring Valley Vineyard, and Northstar from Washington State. The acquisition also includes Ste. Michelle’s facilities and vineyards in Washington.

“Ste. Michelle has been the long-term driving force behind Washington’s wine industry,” said Court Wyckoff, CEO of Wyckoff Farms and Coventry Vale Winery. “As partners since the early 1980’s, we deeply believe in Ste. Michelle Wine Estates’ outstanding portfolio of iconic Northwest wine brands. We look forward to working with the Ste. Michelle team to build on its leadership, invest in winemaking quality, and champion Washington’s wine grape growers and Washington wine to consumers across the country.”

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