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Diageo to acquire Rosenblum
Diageo has entered into an agreement to acquire Rosenblum Cellars for US$105 million. Diageo hopes to increase its presence in the growing US market for premium Zinfandel, a specialism of Rosenblum Cellars.
“The acquisition of Rosenblum Cellars represents an important strategic fit for us, as it enhances Diageo’s presence in the premium Zinfandel segment, one of the fastest growing varietals in the US,” said, Ivan Menezes, president, Diageo North America.
Rosenblum Cellars, which is based in Alameda California, was founded in 1978 by Kent and Kathy Rosenblum and is one of the leading producers of Zinfandel and Rhone varietals in the United States. As part of the acquisition, Kent Rosenblum will continue to make wines and he will play a key advisory role in the strategic direction of the brand.
The transaction, which is subject to regulatory approval in the United States, is expected to complete in the first quarter of calendar year 2008.
© db / Patrick Schmitt, 30/01/08