ARGENTINA: Consumption of premium wine increases
Argentinean wine producers are feeling positive effects in their businessdue to the increase of premium wine consumption, locally and abroad.Covisan, the company of Mendoza acquired Suter for US$15mil a few monthsago. The investment was possible due to Banco Santander Central Hispano thatinvested US$25mil in the company, (of which 15mil in the acquisition ofSuter and the remainder to be invested in the company" expansion).Covisan-Suter is the third major winery in Argentina with a turnover ofUS$70mil per year and plans investments of US$10mil to boost sales in fiveyears. It opened a branch in Sao Paulo, an office in Great Britain andanother in California. Suter exports less than 10% of its wine production.Of Covisan-Suter" total turnover, 60% is from table wine and 40%, from threeyear old and premium wine. The company holds 5% stake in premium wine marketin the country. In table wine, Covisan-Suter controls around 15% of thesales.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-drinks gives you the widest beverage market coverage.
Paid just-drinks members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Olly Wehring, editor of just-drinks
- Ten questions for Diageo - Analysis
- Have spirits companies forgotten the mainstream?
- How craft beer has shattered its US shackles
- New CEO sparks optimism at Coca-Cola - Analysis
- Ashwagandha - The next functional drinks trend?
- Moet Hennessy unaffected by LVMH Dior buy
- BrewDog moves into spirits with LoneWolf launch
- Edrington's Highland Park Valkyrie - NPD
- Coca-Cola to cut 1,200 jobs
- Portman Group heads to Tesco for new chief exec
- Global Scotch insights - market forecasts, product innovation and consumer trends
- Global Champagne and sparkling wine insights - market forecasts, product innovation and consumer trends
- Battle of the Generations - The fight for iGen, Millennial, Gen X and Baby Boomer consumers
- Craft Beer: Coming of Age or Past Its Prime?
- Myanmar - ISA Country Report