Freixenet Copestick acquires Jascots Wine Merchants
Freixenet Copestick has purchased the assets and business of Jascots Wine Merchants from the administrators. All current Jascots employees will transfer to a new business which will trade as Jascots Wine Limited.
Damian Clarke, Managing Director of Freixenet Copestick said: “Jascots is a well-respected wine supplier which through its superb portfolio of exclusive wines, exceptional service and leadership in sustainability has established itself as a supplier of choice to some of the best restaurants, hotels and caterers in London and beyond.
“As the only wholly on-trade specific independent wine merchant in the UK, coronavirus was particularly challenging to Jascots. Despite their swift and successful diversification into direct to consumer and independent off-trade the severity of market conditions proved insurmountable for them.”
Jascots will continue to offer a carefully curated portfolio of premium wines and will retain its focus on finding and supporting small sustainable growers around the world. Jascots will also continue to operate from its North London base.
As part of Henkell Freixenet, one of the world’s leading wine businesses, Freixenet Copestick said it is well placed to provide financial and other support to Jascots, helping it continue its development into the future.
Henkell Freixenet owns wineries across Europe and in the USA. Some of the company’s broad portfolio of wines are expected be very appealing to the leading hospitality providers served by Jascots.
By owning Jascots Wine Limited, Freixenet Copestick said it will now be a supplier to most sectors of the UK wine trade as well as having a growing business in Southern Ireland.