Exclusive: Hess Family Offloads South Africa’s Glen CarlouDecember 16, 2016
Hess Family Wine Estates has agreed to sell its Glen Carlou wine brand from South Africa to the Pactolus Consortium, led by investor and tech entrepreneur Wayne Pitout. Hess Family CEO Timothy Persson said the divestiture is part of Hess’s effort to streamline its portfolio and focus on key growth brands in the U.S. market.
Known for premium and super-premium wines from South Africa’s Western Cape, especially Chardonnay from the Paarl region, Glen Carlou was acquired in full by Hess in 2003. No major changes are planned for the winery, which currently sells around 5,000 cases in the U.S. Hess will continue to handle the brand stateside in the near-term. —Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.