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Russian Standard Boosts Stake In Italy’s Gancia

August 5, 2013

Russian Standard has increased its stake in Italian sparkling wine producer Gancia to 94.1% for an undisclosed sum. The Russian vodka group took its initial 70% stake in Gancia in 2011.

Last month, Russian Standard appointed The Wine Group to handle Gancia in the U.S., where the brand sells around 65,000 cases across its Prosecco ($13.99), Moscato d’Asti ($13.99), Moscato Rosé ($12.99) and Asti Spumante ($11.99) sparkling wines.

Russian Standard chairman Roustam Tariko recently told SND, “We have ambitious plans for Gancia in the major markets. I believe Italy should assert its role in sparkling wine.”

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