Foreign and local big-money deals 11 February 2008

Stormhoek comes ‘home’, Flagstone sale finalised

 

The British-owned brand of South African wine that did so well out of harnessing the internet for its marketing, but still ended up in trouble (see that story), has been bought. Stellenbosch-based Origin Wine, owned by Bernard Fontannez, has taken on Stormhoek, along with other brands owned by Orbital, which was placed under administration a month ago. A purchase price has not been made public.

Nor has it in the case of the sale of Flagstone Winery to Constellation Europe, which has apparently now been finalised. As we reported before, part of the deal is that Flagstone’s chief winemaker and former part-owner, Bruce Jack, will take on oversight of Constellation’s other brands in South Africa – notably big-selling Kumala.