A statement from RSC read: “The following strategic investment is the next step in Russian Standard’s strategy in building vertically-integrated company, ensuring leading position in many key categories of the beverage industry worldwide”.
Gancia is known for its sparkling wines and vermouth. The company claims to produce over 25 million bottles of sparkling wines, wines and aperitifs annually, and is present in 60 markets. From January 2012 Roust is to distribute and provide marketing support for Gancia’s sparkling wines and vermouths in Russia.
The Vallarino Gancia family will transfer 70% of its shares to the RSC Group.
Russian Standard founder Roustam Tariko is to be appointed the new president of the company and has selected a new board of directors including, in addition to representatives of RSC, Edoardo Vallarino Gancia, Lamberto Vallarino Gancia, Paolo Fontana and Carlo Pavesio. Paolo Fontana has been confirmed as CEO and Massimiliano Vallarino Gancia is the global brand ambassador.
Tariko said: “Our strategic long-term investment will provide Russian Standard with a unique opportunity to become one of the dominant players in sparkling wine and vermouth. We have a full scale infrastructure, experience and sufficiently financial resources to build Gancia as a leading brand both in Russia and globally.”
CEO Paolo Fontana said: “This agreement represents the natural outcome of a path initiated three years ago and it is consistent with the growth strategy to make Gancia a premium brand worldwide in its category. In 2010/11, Gancia returned to a positive margin, with sales of more than Euro 70 million. In 2011, the group continued its growth trend both abroad and on the Italian market where it re-acquired leadership in terms of volumes sold and Russian Standard is a leader in all the sectors in which it operates, with a premium positioning currently expanding at a fast pace towards new global markets, Gancia’s main growth target.”