Portugal-based wine group Sogrape has taken a minority stake in newly announced UK distributor Liberty Wines, with the financial details of the deal remaining under wraps.
The move follows the announcement in January that Liberty would take over distribution of Sogrape’s wine brands, including Sandeman and Casa Ferreirinha from Portugal, Bodegas LAN from Spain, Finca Flichman from Argentina and Chateau Los Boldos from Chile.
'This investment underlines our company’s commitment to the UK, enhancing our competitiveness and extending distribution of our wines,' said Sogrape CEO Fernando Guedes.
Liberty MD David Gleave MW added: 'We entered into discussions with Sogrape a year ago, and announced in January that we were taking on distribution of most of their estates for the UK and Ireland.
'Over the last few months, both Sogrape’s board and ours recognised the compelling strategic reasons for closer co-operation and partnership to respond to rapidly changing customer needs.'
The UK accounted for 7% of Sogrape’s global revenues in 2016, which totalled €214m, up 3.9% on 2015.
'The UK is a priority market for us, as it is one of the great shop windows of the world,' said Guedes. 'This investment highlights our strategic focus, our continuing commitment to quality and our ability to maximise value from grape to glass as we pursue a path of sustained growth.'