Henkell Freixenet has bought a 60% share of Dublin-based distributor and importer Cassidy Wines.
The deal, announced today (1 September), “will offer customers and suppliers access to a broader portfolio and enhanced distribution capabilities across the Republic of Ireland”, Henkell Freixenet said. Cassidy Wines will continue to operate from its bonded warehouse in the Citywest business park.
Financial details of the deal were not disclosed.
Citing IWSR data, Henkell Freixenet said: “The Republic of Ireland offers attractive growth potential, with the sparkling wine market recording a CAGR of 6% over the past ten years.”
“Cassidy Wines has an excellent reputation, deep roots in the Irish market and strong, long-standing relationships with customers and suppliers,” said Henkell Freixenet CEO Andreas Brokemper. “By joining forces, we are combining these strengths with Henkell Freixenet’s international portfolio and expertise.”
The M&A move comes a month after talks between Maison Pommery & Associés and Henkell Freixenet fizzled out without agreement. Henkell Freixenet confirmed at the start of June that it was in discussions to buy a majority stake in the Champagne-led wine group. Both parties said they remain open to the possibility of resuming discussions “at a later stage”.
