Russian Standard Boosts Stake In Italy’s GanciaAugust 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.”Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.