Constellation to buy Meiomi
Victor, N.Y.—Constellation Brands Inc. will acquire the Meiomi wine brand from Copper Cane, which was founded by Joseph Wagner, son of Chuck Wagner, the owner of Caymus Vineyards and head of Wagner Family of Wine. Joseph Wagner released the first Meiomi Pinot Noir in 2009, and it enjoyed remarkable success, growing from 90,000 cases in 2010 to 550,000 cases in 2014. Copper Cane also produces Belle Glos Pinot Noir, which was not part of the deal announced July 1. Constellation expects to close the deal in August, and Joe Wagner will work as a consulting winemaker for the brand for two vintages, according to a statement announcing the deal. Shanken News Daily reported Wagner said the deal was worth $315 million, or roughly 24 times the brand’s present and future earnings.
