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Henkell buys remaining stake of Copestick Murray
German sparkling wine producer Henkell & Co has bought the remaining 40% stake of UK Distributor Copestick Murray.
Robin Copestick, co-founder and director of Copestick Murray
The move, announced this morning, is likely to bolster Copestick Murray’s position in the UK at a time when the drinks industry is still undergoing a period of change and consolidation.
Having bought a 60% stake in the business in September 2013, Henkell’s & Co’s CEO Dr Brokemper said the company had been very pleased with Copestick Murray”s progress. “As a result all the interested parties agreed that the time was right for Henkell & Co. to wholly own Copestick Murray,” Dr Brokemper said.
Earlier this month the company reported “highly satisfactory” sales, having accelerated its growth rate on the back of its two largest brands, the Henkell-produced Prosecco brand Mionetto and its own ‘I heart wine’ brand. Sales of Mionetto had outpaced the UK Prosecco market, doubling since 2014 as well as widening distribution.
Turnover grew 32% to £30,474k (from £23,131k in 2014) with operating profit grew to 882,667k and increased volumes helping raise EBITDA from £593k in 2014 to £980k in the 12 months to 31 December. However gross margin profit had reduced slightly from 9.7% in 2014 to 9.6%, it noted.
Managing director Robin Copestick, who founded the company with his partner Paul Murray in 2005, and who will continue to head up the company in the UK, said he was very proud of the company’s achievements and thanked his staff. “We feel very fortunate to have found such a great partner in Henkell & Co. I am looking to the future with huge optimism and excitement.”
“We have a very ambitious and exciting strategy for the next few years.”
In November, Copestick told db the company had already seen the benefit of the partnership, with wider distribution in the UK for its brands, as well as a significantly larger stake in the lucrative sparkling wine market through Mionetto. Products sourced from the parent company had already risen 35%, he noted.