Italy’s Compari Group announced it has signed an agreement to sell the Lapostolle winery and wine business located in the Santa Cruz region of Chile back to its founder and former owner, Alexandra Marnier Lapostolle, for €30 million (US$31 million). This will return the business to family control as Compari Group effectively exits the wine business.

Founded in 1994, the winery includes 914 acres (370 hectares) across three vineyards planted in Sauvignon Blanc, Cabernet Sauvignon, Merlot, Carmenére, and Syrah, along with production plants, inventory, hospitality operations in its ‘Lapostolle Residence,’ and real estate, according to Shanken News. From these vineyards the company produces a portfolio of premium wines including the award winning Clos Apalta 2005 that it distributes in more than 60 global markets.

Since the beginning of the year, the Compari Group has been actively divesting non-core businesses.

“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 the company in a recent statement.

Total output from the winery stands at around 200,000 nine liter cases per year with exports to the U.S. totaling between 55,000 and 60,000 cases per year. Currently the U.S. market accounts for about 40 percent of the winery’s business, with Latin America, Asia Pacific, and Europe/Middle East/Africa accounting for about 20 percent each, explained Charles de Bournet Marnier Lapostolle, chief executive of Marnier Chile, to Shanken Daily News in a recent interview.

Mr. de Bournet Marnier Lapostolle goes on to explain how the transaction came to be, saying, “My parents started it in 1994, and it’s really their baby. Some members of the team have been working here for 20 years. We didn’t want to let the opportunity go to someone else. After six months of negotiations we finally came to agreement on the 24th of December. The whole team remains the same, so there will be no disruption to our ongoing business.”

Looking forward, de Bournet Marnier Lapostolle says that the group is planning to re-launch updated packaging and will be launching two new wines in the U.S. in the beginning of 2017, while also working to grow its sprits business.

The deal is scheduled to close within the next two months.

—

Lynda Kiernan