Decanter April 22, 2014
Sparkling wine producer Igristy Vina has joined a growing number of Russian drinks firms buying foreign wine labels, after closing a deal for Italy’s Contarini. Igristy Vina has agreed to pay €8m for Prosecco DOCG producer Contarini, and will also pay off the Italian sparkling wine producer’s debts, estimated at €20m. The deal is the latest example of recent investment in wine by Russian drinks firms.
Igristy Vina rival Abrau Durso has said it will spend €10m to up its domestic sparkling wine production capacity over the next few years, while vodka maker Russian Standard has taken a majority stake in Italy’s Gancia and is also partnering Concha y Toro in Russia.
Vasily Dragan, chairman of Igristy Vina, said the Contarini acquisition enables the firm to significantly increase its sparkling wine range and produce its own brands – such as Masters’ Heritage and LEV Golitsyn – at Contarini’s facilities.