News Alert: Constellation Buys The Prisoner And Related Wine Brands For $285 Million

Constellation Brands has made another blockbuster luxury wine purchase, agreeing to buy the brands of the Prisoner Wine Company from Huneeus Vintners. The portfolio includes five brands, including superstar blend The Prisoner, Saldo, Cuttings, Blindfold and Thorn. The transaction, expected to close this month, includes just the brands. The price was approximately $285 million.

“This acquisition further strengthens our position in the fine wine segment,” said Bill Newlands, president of Constellation’s Wine and Spirits division.

The Prisoner was launched by Orin Swift founder Dave Phinney in 1998 as a modern version of the California field blend, earning critical acclaim and a strong consumer following. The brand consistently garners scores of 90 points and above from Wine Spectator and has appeared on the magazine’s Top 100 list multiple times.

While competition in the California red blend segment has increased in recent years, The Prisoner remains among the top luxury players, retailing around $35. According to Nielsen, overall red blend sales grew 7.6% in 2015 by volume. In IRI channels, the above-$20 red blend segment was up 30% last year from a relatively small base. The Prisoner Wine Company’s Blindfold and Saldo brands, competing in the luxury white blend and Zinfandel segments respectively, are also strong performers.

In 2010, Phinney sold The Prisoner to Huneeus Vintners, owners of Quintessa, after growing it to 85,000 cases. Sources report the price tag then was $40 million. Huneeus has continued to grow the brand, increasing production to 170,000 cases last year.

This is the second major brand purchase by Constellation in less than a year, following its $315-million acquisition of Meiomi from Joe Wagner last July.

Tagged : Constellation Brands, Dave Phinney, Huneeus Vintners, luxury wine, Orin Swift, red blends, The Prisoner

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