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Ramón Bilbao owner buys stake in Lolea sangria
Spain’s Zamora Company, which owns brands including Licor 43, Ramón Bilbao and Villa Massa Limoncello, has acquired a strategic stake in the polka-dotted sangria brand Lolea.
Launched in 2013, Lolea portfolio’s portfolio includes a range of 7% abv fruit and wine-based beverages: Lolea Nº1, made with red wine; Lolea Nº2, made with white wine; Lolea Organic, made with organic certified wines; and two sparkling sangrias – Lolea Brut and Lolea Rosé.
“Lolea is a brand whose positioning transcends the premium sangria category, giving a growth potential perfectly matched to the vision and capability of Zamora Company,” said Emilio Restoy, CEO of Zamora Company, of the acquisition.
“The purchase has been made directly from the four founders in Spain and the other two partners in the US who will continue to work with the brand to preserve its essence and to increase, with their experience, the potential of the project. ‘We are delighted to have the opportunity to work with Lolea’s founders who, in a very short period of time and with limited resources, have managed to create an iconic brand and position it as the unquestioned leader.”
Since its launch, the brand has reached sales of 130,000 cases and is distributed in more than 60 countries, with Zamora’s aim to turn Lolea into a leading lifestyle brand that moves “beyond the premium sangria category”, using cocktails to drive consumption.
“Our vision is to surpass 350,000 cases in the medium term – beginning with the current 130,000 case sales figure,” added Restoy.
The acquisition continues a run of purchases for Zamora, which in November 2017 announced it had entered the American whiskey category for the first time, having purchased a stake in the Texas-based craft whiskey brand Yellow Rose. Founded in 2010, Yellow Rose Distilling is thought to be the first legal distillery and tasting room in the Houston city limits, and specialises in hand-crafted, blended and bottled premium whiskeys.
That acquisition followed the company’s complete acquisition of Villa Massa Limoncello the same month.
The size of the stake in Lolea or its value was not disclosed.