Castel, Vranken-Pommery form rose wine alliance
- Monday 18 November 2013
(Domaines Listel vines, owned by Vranken-Pommery)
Vranken-Pommery said today (18 November) that it will form a new company, Listel SA, that will be 50% owned by it and Castel and will be 'at the forefront of the global rosé wine sector'.
The deal, which follows several years of rising sales for rosé, gives rise to a rosé wine-focused company with a net value from its activites of EUR42m (US$56.7m). It will aim to sell 40m bottles annually, the firms said in a joint statement.
Castel will match Vranken-Pommery's cash contribution to the new business and offer access to its distribution networks globally, with a particular focus on emerging wine markets, such as China, Russia and Africa.
Under the terms of the deal, Vranken-Pommery will retain ownership of the domaines and chateaux, including Listel and Billette.
But, the new Listel SA will have control over all of Vranken-Pommery's Negoce Listel business, as well as Listel Provence Côtes de Provence trading activity, and the Billette brand.
Earlier this year, figures published by trade show Vinexpo forecast global consumption of rosé wine would rise by 7.6% from 2011 to the end of 2016, ahead of the projected increase in overall wine consumption. If proved correct, rosé would then account for 9% of all wines drunk in 2016.