SPAIN: Faustino in €50m expansion – report
Spanish winery Bodegas Faustino Martinez is to invest €50m to expand its manufacturing facilities and promote its Ribera del Duero and La Mancha original labels, local newspaper El Correo reported.
The company will spend €20m to build a new wine-making complex in Gumiel de Izan in Burgos, northern Spain, which will bolster output of its Ribera del Duero labels.
The complex, designed by British architect Norman Foster, will be ready in two years and produce wine from 1m kilos of grapes.
Faustino could not immediately be reached for comment.
Faustino will also use the funds to buy 500 hectares to boost production of its key La Mancha label and to expand its current vineyard lots.
- Chile's winemakers caught out by Brexit "disease"
- Interview - Pernod Ricard's luxury director
- What's coming up in wine in 2017? - Comment
- The just-drinks Analyst - 2017 forecasts
- What's coming up in beer in 2017? - Comment
- Diageo Australia names new commercial head
- Suntory sends staff to fat camp - report
- "Beer and weed are complements" - analyst
- Pernod Ricard's Absolut Lime - NPD
- Irish whisky exports forecast to double by 2020
- Global vodka insights - market forecasts, product innovation and consumer trends
- The Next Seven Big Beverage Markets
- Global Cognac insights - market forecasts, product innovation and consumer trends
- Global gin insights - market forecasts, product innovation and consumer trends
- Darker Than Before: Global Prospects for Brown Spirits