Portuguese conglomerate The José de Mello Group has set up a platform to focus on the country’s wine market and has snapped up a series of assets.
The José de Mello Group is already involved in wine production through the Ravasqueira brand but has created WineStone to drive its expansion into Portugal’s Douro and Vinho Verde regions.
Through the WineStone vehicle, The José de Mello Group has now bought the wine brands Quinta do Retiro Novo, Krohn, Quinta do Côtto and Paço de Teixeiró.
The decision to expand in wine came from the “accelerated growth” Ravasqueira has seen in recent years, The José de Mello Group said.
“The creation of the new WineStone business platform represents another step in achieving our growth ambition and also constitutes a challenge for us to take on – like the other business areas in which we are present – a leading position in the wine sector,” José de Mello Group executive president Salvador de Mello.
The José de Mello Group is one of Portugal’s largest corporate entities and has interests in chemicals and water treatment, homes and services for seniors, infrastructure, as well as maintenance services.
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Pedro Pereira Gonçalves, the president of the created business unit WineStone, said: “Our main objective is to develop a growth strategy with ambition, consistency and sustainability, from a long-term perspective, to be able to produce and sell quality wines in all the regions in which we are present, with brands admired by consumers from different segments, in the national market and with an impact on international markets.”
The addition of the wine brand Krohn gives the group its first Port.