CHILE: Ventisquero quashes US$80m sale rumours
Chilean wine producer Viña Ventisquero has denied rumours that the company has been put up for sale for around US$80m.
The future of Ventisquero, which produces a stable of wines including Yali and Ventisquero, had become the subject of speculation in and outside Chile.
However, Melanie Whatmore, deputy marketing manager at Ventisquero, told just-drinks that talk of a sale is "absolutely not true".
"There is not even an intention of selling. We have seen very strong growth in a short time and we are focusing on building our brands," she said today (4 December).
Whatmore added that Ventisquero, which ranks as Chile's 13th largest wine exporter, is aiming to break into the country's top 10 in terms of overseas sales.
Whatmore again cooled the speculation. "We've heard those rumours here but they're not true either," she said.
Officials at Pernod could not be reached for comment as just-drinks went to press.
The Chilean wine industry has been hit by the strength of the country's peso against the US dollar, which has hurt earnings at a number of wine producers. There has been speculation in Chile that the tougher trading conditions could lead to a raft of consolidation throughout the wine industry.
Whatmore, however, said Ventisquero would be an active participant in any consolidation. She added: "If anything, Ventisquero would buy smaller wineries, so consolidation for us would be about growing the company rather than selling."
The C&C Group may have its cider brand Magners to thank for its recent success, but Brian Walsh, managing director of the Irish company's spirits arm C&C International, believes the group's spirits po...
Beam's acquisition of Teacher's and Laphroaig may not have attracted as much attention as some other elements of the Allied Domecq sell-off but as Michael Cockram, Scotch brand director at Beam Global...
Bacardi has been engaged in a legal battle with Pernod Ricard over the rights to the Havana Club trademark for years. But Patience Gould believes the US-based spirits giant is shooting itself in the f...
Pernod Ricard has played down reports that it'll be targeting higher income households in China....
Diageo has secured a prime position for its Blossom Hill wine brand at this year's Wimbledon tennis championships....
Pernod Ricard has confirmed that its managing director has visited Sweden to look at Vin & Sprit's Absolut vodka brand, ahead of a possible sell-off....
Eckes AG has sold Stock Plzen in Czech, according to reports....
Chivas Brothers has launched an extensive campaign to promote its entire Ballantine's Scotch whisky range internationally....
- Diageo's future brighter than present suggests
- Diageo's Q1 Results by Region
- Analysis - Remy's Cognac "dead-cat bounce"
- SABMiller's troubles fuel M&A rumours
- Focus - Remy Cointreau's H1 Performance by Brand
- Moët Hennessy unveils first Travel Retail outlet
- Diageo puts Beckham centre stage in Haig Club ad
- United Spirits sees Q1 net loss
- Diageo Q1 sales dip "in line with expectations"
- Moet Hennessy sales falter in YTD