S AFRICA: Vinfruco, Stellenbosch discuss merger
Vinfruco and Stellenbosch Vineyards are in talks to merge the two companies. In a notice issued on Monday, the two wine companies said that their boards of directors were discussing a merger that would create a group with combined annual sales of around ZAR500m (US$76m).
No further details were released about the talks, but Stellenbosch Vineyards has notified its joint-venture partners about the negotiations, the company said.
The need for consolidation among South Africa's smaller wine exporters has become an increasingly urgent issue, in light of a stronger rand and growing international wine surpluses intensifying competition.
Vinfruco is an independent company in which Capespan holds a major stake. Stellenbosch Vineyards announced a joint venture with Constellation Wines last September to market its wines in Europe.
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