CHILE: Pisco Capel to sell wine business
The sale reflects Capel's new policy of divesting its non-core enterprises in order to focus on developing its pisco and concentrated grape juice businesses.
The company is currently in negotiations with potential foreign partners about expanding its pisco exports and is looking to streamline its operations.
The Francisco de Aguirre winery is located near the town of Ovalle in northern Chile. In the first stage of the auction, Capel will sell off the winery's bulk wine production, including 260 hectares of planted vineyards and a Tetra Pak packaging line.
In the second stage of the auction, the company will then sell off its fine wine business. Once the two sales are concluded, Pisco Capel will definitively withdraw from the wine business, the company confirmed.
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