COFCO BUYS CHILEAN WINERY, EYING CHINA PREMIUM MARKET
September 1st, 2010
BY WANG FANGQING
A NEW China-owned wine company in Chile will try to overcome perceptions among Chinese consumers that Chilean wine is a low-grade tipple. China's largest food trading company, the state-owned COFCO Group, has paid US dollars USD18 million to purchase part of Viña Bisquertt, a Providencia, Chile-based winery. This will be split off as a new company - Santa Andrea Limited - wholly-owned by COFCO. Its 350 hectares of vineyards' annual output are 14 million-litres. Santa Andrea's target is China's high-end wine market, said COFCO's representative ...
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