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.
Starbucks to open 10,000 sustainable stores in bid to save US$50mn
The plans come under an initiative called the “Starbucks G...
Starbucks has announced plans to open 10,000 “greener stores” around the world by 2025
The plans come under an initiative called the “Starbucks Greener Stores Framework”, which the coffee company will develop with experts in the field such as SCS Global Services, and the World Wildlife Fund.
Kevin Johnson, Starbucks’ CEO, said in a company statement that Starbucks has a responsibility to promote environmental sustainability.
“We are a company in [sic] that believes, in the fabric of mission and values, that the pursuit of profit is not in conflict with the pursuit of doing good”.
The announcement aligns with Starbucks’ efforts over the past decade to create sustainable buildings, working in partnership with the US Green Building Council.
The company has said it will go beyond the Leadership in Energy and Environmental Design (LEED) sustainable building criteria, which it developed alongside the US Green Building Council, to focus on powering its stores in the US and Canada with 100% renewable energy.
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Starbucks plans to introduce technology to both new buildings and in renovations of existing stores that will save 25-30% on energy and water use.
Marketing Magazine said this could save Starbucks around US$50mn incrementally over the next decade.
This year, Starbucks committed to eliminate its reliance on single-use straws in 28,000 stores by 2020, and also said that it is developing compostable paper cups.