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Sopgrape takes share in Liberty Wines
Portuguese wine group Sogrape has taken a minority share in UK distributor Liberty Wines, with some of its brands achieving double-digit growth last year.
Sopgrape’s CEO, Fernando Guedes, said the move underlined the company’s commitment to the UK and “enhanced” its competitiveness.
He continued: “The UK is a priority market for us, as it is one of the great shop windows of the world. This investment highlights our strategic focus, our continuing commitment to quality and our ability to maximise value from grape to glass as we pursue a path of sustained growth.”
The two firms announced a distribution agreement this January, with Liberty taking on Sogrape’s portfolio of brands including: Sandeman Port, Bodegas LAN, Château Los Boldos (in Chile) and Finca Filchman.
Liberty Wines’ managing director, David Gleave MW, said: “We entered into discussions with Sogrape a year ago, and announced in January that we were taking on distribution of most of their estates for the UK and Ireland. Over the last few months, both Sogrape’s Board and ours recognised the compelling strategic reasons for closer cooperation and partnership to respond to rapidly changing customer needs.”
Both Sogrape and Liberty enjoyed strong sales last year, the former seeing global reveneues reach €214 million (an increase of 3.9%), with the UK accounting for 7% of global sales.
Fiscal 2017 at Liberty Wines meanwhile witnessed “strong” double-digit growth with sales turnover in excess of £53m.