SPI Group has ventured into Argentina with its stake in Achaval-Ferrer

SPI Group has ventured into Argentina with its stake in Achaval-Ferrer

The SPI Group has acquired a stake in Argentine winery Achaval-Ferrer.

The Luxembourg-based drinks company, which owns the Stolichnaya vodka brand, announced earlier today (15 April) that it has bought a “significant” share in Mendoza-based Achaval-Ferrer, for an undisclosed sum. When contacted by just-drinks, a spokesperson for SPI confirmed that it had taken majority control of Achaval-Ferrer, adding that "the terms of the deal will remain confidential".

Founded in 1998, the Argentine wine producer specialises in high-end wines, with its most expensive brands retailing at around US$100 per bottle.

As part of the transaction, the president of Achaval-Ferrer, Santiago Achával Becu, will continue in the role, and will also be involved at a senior level in SPI’s wine portfolio development.

Back in 2006, SPI Group made its first foray into wine when it set up a joint venture with the Frescobaldi family and Michael Mondavi. The alliance owns three wine estates in Italy; Tenuta dell'Ornellaia, Castelgiocondo and Luce della Vite.