PORTUGAL: Sogevinus takes number four spot
Port shippers Barros Almeida and Kopke have been bought by Sogevinus, the wine arm of Spanish bank Caixanova, in a deal which makes the company the fourth biggest producer in the Douro Valley.
Sogevinus, which already owns Cálem, Burmester and Gilberts, acquired the companies from the Barros family for an undisclosed sum, rumoured to be about EUR50m (US$63m).
The deal doubles Sogevinus' sales volumes and gives it an 11% market share, making it the fourth biggest Port shipper behind Symington, Fladgate and Sogrape.
It also adds Barros' Quinta de S. Luiz and Quinta D. Matilde to the group, giving Sogevinus 418ha of A-grade Douro vineyards.
Sogevinus will now be market leader in Denmark and the Netherlands, and will boast an increased presence in the Portuguese market.
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