AdVini snaps up majority stake in South African wine producer Stellenbosch Vineyards
French wine producer AdVini has acquired a majority stake in South African firm Stellenbosch Vineyards to expand its presence in the country.
AdVini said that that the acquisition comes off the back of an international distribution agreement that started at the beginning of 2018.
Under the deal, Advini will now own all the company’s brands, Stellenbosch Vineyards’ winemaking facility, bottling activity and logistics centre.
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The deal comes a year after AdVini bought a “significant” stake in South Africa’s Ken Forrester Vineyard, in a bid to become a major player in the South African wine market.
AdVini owns 2,33 hectare of vineyards across France and it’s French estates include Domaine Laroche in Chablis, Ogier and Clos de l’Oratoire des Papes in Châteauneuf-du-Pape; and Château Capet-Guillier in Saint-Emilion..
Last year, the French firm recorded a turnover of EU€250 million.
"With the addition of Stellenbosch Vineyards, our South African wine offering in the premium segment is vastly becoming an enticing selection, together with international brands that meet the demand of our retail customers and consumers, in a model that is particularly respectful of the social and environmental values," said Antoine Leccia, CEO of AdVini.
Eduan Steynberg, managing director of Stellenbosch Vineyards, added: “AdVini is present in over 100 countries due to its sales network and close relationships with its customers. We are all proud to be joining the AdVini family,”
The financial sum and stake size of the deal were not disclosed.
