Exclusive news and research on the wine, spirits and beer business

Exclusive: Palm Bay’s Taub Family To Acquire Pasternak Imports, Markedly Expanding French Portfolio

December 8, 2016

The Taub family, which owns importer Palm Bay International, is set to acquire Harrison, New York-based Pasternak Wine Imports from Bordeaux’s Domaines Barons de Rothschild (Lafite) for an undisclosed sum. 

The Pasternak portfolio will be merged into the Taubs’ Esprit du Vin (EDV), which is separate from Palm Bay and has its own management, sales and marketing teams. The combination will create a company with total volume of about 760,000 cases. DBR Lafite said the divestiture will allow it to focus exclusively on being a producer and supplier, while entrusting its U.S. distribution to a seasoned partner.

In an interview with SND, Marc Taub, president and CEO of both Esprit du Vin and Palm Bay, said, “The Pasternak portfolio is lean and compact, with a diversity of terrific wines across the board that have the capacity to grow their presence in the U.S. market. France in general is very exciting right now, and we’ll continue to ride that wave.” He added that DBR Lafite president and CEO Christophe Salin will work side-by-side with Esprit du Vin as “an invaluable partner and strategic advisor.”

Taub noted that EDV will welcome onboard most of the Pasternak sales and marketing organization. Former Pasternak executive Badr Benabdessadek has joined EDV as vice president of finance and operations. Pasternak’s headquarters in the Westchester County town of Harrison will not be retained.

According to Impact Databank, Pasternak—which was fully acquired by DBR Lafite in 2013—totals approximately 450,000 cases. The portfolio includes Chateau Lafite Rothschild, Champagne Barons de Rothschild, Chateau La Nerthe, Chateau Duhart-Milon, Domaine d’Aussieres, Saget La Perriere and Cave de Lugny among others from France, as well as Los Vascos from Chile, Bodegas Caro from Argentina and Valdo Prosecco from Italy. Recently, Pasternak has launched Legende, a range of accessible Bordeaux wines, and Château de la Mulonnière from the Loire Valley, among others.

The Taub family created Esprit du Vin in 2010 as a vehicle for importing highly regarded French wines on a national basis, beginning with producers like Maison F. E. Trimbach, Chateau Greysac, Domaines Paul Mas, Domaine Bertagna, Domaine Antonin Guyon and Chateau de la Chaize. Since then, the portfolio has expanded to include other prominent global wine regions as well. Like Pasternak, Esprit du Vin has been developing a portfolio of accessibly-priced Bordeaux wines recently, adding Stéphane Derenoncourt’s Domaine de l’A to its lineup earlier this year. The deal also gives Esprit du Vin a boost in the buoyant Champagne market, via the rising Barons de Rothschild brand—Daniel Marsteller

Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.

Tagged : , , , , , , , , , , , , , , , , , , , , , ,


Previous :  Next :