Beringer Blass Wine Estates announced that it has signed an agreement to acquire the Carmenet brand from the Napa-based Chalone Wine Group. The agreement includes the brand name and existing bottled and bulk inventory. It does not include the Moon Mountain or Dynamite brand names, vineyard or winery facilities, nor any related employees. The purchase price was not disclosed.
Carmenet, founded in 1982, is known for producing appellation-driven and vineyard designated wines from primarily North Coast vineyard sources. Using fruit from Beringer Blass' estate vineyards in Napa, Sonoma and Santa Barbara as well as from grape contracts that will remain in place, Carmenet will expand its offerings from these appellations and continue to make vineyard-designated and reserve-style wines. A winemaker will be named before the end of the year.
"Carmenet has an enviable track record of sourcing excellent fruit from diverse coastal California appellations to produce award-winning wines," commented Jim Watkins, Beringer Blass Wine Estates' President of the Americas. "The brand complements our existing portfolio of wineries and vineyards and is an excellent strategic fit. We look forward to building on its tradition of producing fine wines from California's best appellations."
Beringer Blass Wine Estates (BBWE) offers an extensive portfolio of premium varietal wines from five countries: Australia, United States, Italy, Chile, and New Zealand. Formed by the Foster's Group acquisition in October 2000 and the subsequent merging of California's Beringer Wine Estates and Australia's Mildara Blass, BBWE has quickly grown to become one of the world's leading premium wine companies, with more than 15 unique wine properties and brands across the globe. Leading brands include Wolf Blass, Beringer Vineyards, Meridian Vineyards and Greg Norman Estates.
Dedication to quality is the underpinning of BBWE's continuing success; the company owns or directly controls nearly 7,700 hectares of vines in Australia, California, New Zealand and Italy. This control over sourcing, along with rigorous attention to detail in all aspects of winemaking and production, have resulted in highly acclaimed, award-winning wines throughout BBWE's portfolio.
Further information:
Media
Rell Hannah
Tel: +613 8626 3307
Mob: +61 (0) 419 369 075
Analysts:
Michael Roberts
Manager Capital Markets
Tel: +613 9633 2273
