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Constellation Brands Inc. has completed its acquisition of the Mark West wine brand from Purple Wine Co. LLC for roughly $160 million, the Victor firm announced after markets closed Monday.
The transaction includes the Mark West trademark, certain grape supply contracts and inventories of wines from California appellations: a California pinot noir, a Russian River reserve pinot noir and a Santa Lucia reserve pinot noir, along with a chardonnay.
Constellation Brands announced its intent to purchase the brand last month.
Mark West pinot noir is the nation’s best-selling pinot noir and a leader in wine priced $10 to $12 a bottle at retail. Mark West has grown into a nearly 600,000-case brand sold primarily in the United States, Constellation Brands said.
“Mark West is one of the fastest-growing major pinot noirs in the market and has exceeded the growth of the category,” said Robert Sands, Constellation Brands’ CEO, in a statement. “The brand is an exciting addition and fills a gap in our portfolio of pinot noir brands.”
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