Constellation Closes $315 Million Deal For MeiomiAugust 4, 2015
Constellation Brands has completed its acquisition of Impact “Hot Brand” Meiomi from Joseph Wagner’s Copper Cane Wines & Provisions. The deal, originally announced July 1, includes the upscale wine brand itself, as well as related inventories of Pinot Noir and Chardonnay. Wagner, who launched Meiomi in 2009, will continue to consult on winemaking for the next two vintages. One of the hottest brands in the wine market, Meiomi ($25 a 750-ml.) rose 41% to 550,000 cases in 2014, according to Impact Databank, and is on pace to surpass 700,000 cases this year, led by its Pinot Noir.
Wagner told SND at the time of the agreement that he intends to parlay the sale of Meiomi into a much larger presence as a landowner in California. The 33-year-old fifth-generation California winemaker, who began Meiomi while working at Wagner Family of Wine, led by his father Chuck, said he hopes to amass 2,000-3,000 acres of vineyards in the next five years. There was no non-compete clause included in Constellation’s deal for Meiomi. Wagner’s Copper Cane Wines & Provisions also includes the Beran Zinfandel, Carne Humana Red Blend and Elouan Oregon Pinot Noir labels.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.