Press reports in Argentina have suggested that the US wine group, Kendall Jackson, is planning to sell its Argentine wine company, Tapiz, for US$1.2m.
The report in the newspaper, El Cronista, said the sale was expected to go through some time in September and would end a seven-year involvement by Kendall-Jackson in Argentina.
Kendall-Jackson, which has annual sales of around US$800m, paid US$4m for Tapiz when it acquired it. The company is thought to be focusing its attentions on its Chilean operations.
