Categories: General
Date: Dec 23, 2008
Title: Winery in Ukraine
Italian Winemaker Buys Odessa Winery of Ukraine
By Paul Farley, Nova Mova co-owner, from Internet sources.
Italy’s winemaking giant, Campari, has purchased 99 percent of Ukraine’s CJSC Odessa Sparkling Wines, according to a news release from the Italian company. The price of the purchase was reported as US$18 million.
Campari, which is best know for its better red aperitif, will take ownership of the Odessa plant and its entire assortment of sparkling wine brands. Campari considers the purchase of Odessa to be an important step toward strengthening its position in Eastern European markets. Ukraine is considered the second-largest market, after Russia, for sparkling wines in Eastern Europe.
The purchase is part of Campari’s strategic plan to expand into emerging markets. The company also reported that it had finalized the acquisition of 70 percent of the Argentinean winemaker Sabia S.A.