Constellation Brands to divest eight NZ wine brands

Constellation Brands New Zealand Limited has signed a conditional agreement with Poulter Family Wines to divest eight New Zealand mainstream wine brands, as well as the Selaks winery and related vineyards in Hawke’s Bay.

The transaction is subject to closing conditions, including the completion of an employee consultation process in compliance with New Zealand and Australian employment law.

Upon completion of the transaction, Poulter Family Wines will take on ownership of Selaks, Little Harvest, The People’s Wine, Young & Co., State of Light, Wild Grace, Superstate, and Tipping Point.

Constellation will retain its core New Zealand brands Kim Crawford and Drylands, which it says represent an important part of its global wine and spirits portfolio.

“This transaction reflects our multi-year strategy that repositioned our global Wine & Spirits business, resulting in a portfolio of higher-end wine and craft spirits brands that are aligned to evolving consumer preferences,” said Simon Towns, Managing Director, International – Wine & Spirits, Constellation Brands. “In New Zealand, we’ll continue to craft our exceptional Kim Crawford and Drylands wines, aiming to grow and expand these brands in line with our global wine and spirits portfolio strategy and long-term objectives.”