Henkell-Freixenet Seeking 10% Of Global Sparkling Wine Market
Newly merged drinks group Henkell-Freixenet is seeking to command as much as 10% of the global sparkling wine market by 2025, according to media reports.
German trade publication Rundschau für den Lebensmittelhandel reported that the group is hoping to increase its presence in the Asian market, while also capitalising on the 'Prosecco boom' with its Mionetto and Freixenet Prosecco.
Currently the company holds 8.5% market share in the sparkling drinks sector internationally, but "in 2025 we want to reach the 10% mark", Henkell chief executive Andreas Brokemper told the publication.
On the merger of Henkell and Freixenet, which is due to be completed in 2019, Brokemper said that both companies "complement each other perfectly", both in terms of product portfolio and marketing approach.
With this in mind, the newly-merged company doesn't expect to have to make any redundancies once the merger is completed.
The two companies' structures have already been merged together in the United Kingdom, the United States and the Nordic countries, with Germany to follow suit in spring 2019, Rundschau für den Lebensmittelhandel reported.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.