ARGENTINA: Kendall Jackson quits Argentina
Kendall Jackson has pulled out of Argentina after seven years. The wine producer has sold its three properties in the country for US$2.5m. Kendall Jackson bought the properties, totalling around 2,000 acres, in 1996.
The sale was completed on 30 October and sees the producer's Tapiz operation transfer to Fincas Patagonicas, an Argentinean buyer.
Fincas Patagonicas is due to take over the distribution contract at the beginning of next year. The new owner will get profits from the 2002 wines currently being sold in the US market and will be responsible for the distribution of the 2003 wines, a report in the Wine Spectator said.
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