CHILE: Concha y Toro to rent Canepa in Chile
Concha y Toro has secured a deal to rent the facilities of Vina Canepa in Chile.
The Chilean wine company confirmed today (15 March) that it has signed an agreement, which will also allow Concha y Toro to run the brand licence of Canepa. Financial details of the deal were not disclosed, but the spokesperson described the fee as "negligible".
"Concha y Toro will manage and oversee Canepa's brands both in Chile and worldwide," a spokesperson told just-drinks. "This is a medium-term project," she added, noting that no time frame had been set for the rental arrangement.
Vina Canepa is what the spokesperson described as a "medium-sized" winery in Chile, which last year sold 118,000 cases worldwide.
"This is something we think is an opportunity to utilise Concha y Toro's distribution to help grow Canepa's sales," the spokesperson concluded.
US wine consumption rose 3.4% in 2006, continuing the sector's climb for the 13th consecutive year, according to research out this week....
Growth in its premium wines and strong export growth have helped Vina Concha y Toro report a 70.4% rise in net income for the second quarter to CLP8.77bn (US$16.7m)....
Central European Distribution Corporation has acquired a Polish alcoholic drinks distributor....
Wine exports from Chile stood at US$1.066bn during the 12 months from April last year, according to recent reports....
Central European Distribution Corporation has lined up a distribution agreement in Poland....
Vina Concha y Toro has seen its Q1 figures soar on the back of strong exports....
Central European Distribution Corporation has set out its stall for 2007....
Concha y Toro has posted details of its dividend payment....
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