Taylor buys Wiese & Krohn

[Axel P]

As it was already out in Portugal last week, now it is officially released:



The Fladgate Partnership has purchased the brand, stocks and vineyard holdings of Wiese & Krohn in a deal that includes exceptional stocks of Aged Tawnies and Colheitas dating back to 1863, plus Quinta do Retiro Novo in the Rio Torto Valley in the Douro.



As a leader in Aged Tawnies by value and volume, The Fladgate Partnership sees this as a long term investment in the business and one which strengthens its position in this sector.



‟The recent growth and interest in Aged Tawnies worldwide has fuelled our interest to expand our stock and introduce a range of exceptional Colheitas to our portfolio for the first time,” explains CEO of The Fladgate Partnership, Adrian Bridge. ‟Wiese & Krohn is widely recognised for its expertise in this field and the acquisition of the company includes the highly desirable Grade A vineyard of Quinta do Retiro Novo, in the Rio Torto Valley.”



Wiese & Krohn has been owned and run by the third generation of the Falcão Carneiro family. Its stocks include around 5 million litres of Port which are currently stored in six cellars in Vila Nova de Gaia and one in the Douro. Following the purchase, these stocks, its operating systems and the team at Wiese & Krohn will be fully integrated into The Fladgate Partnership.



‟This move is a further step in the consolidation of the Port industry in which our group has taken a leading role. The acquisition of Wiese & Krohn demonstrates our confidence in the market for premium Port and will further strengthen our ability to service future growth in this segment,” concludes Bridge.



The Fladgate Partnership, which owns the illustrious Port houses Taylor’s, Fonseca and Croft, currently holds over 500 hectares of vineyards in the Douro. It counts some of the most famous quintas in the Douro Valley in its property portfolio including Vargellas (Taylor’s), Panascal (Fonseca) and Roêda (Croft) plus two state-of-the-art wineries and six traditional estate wineries.

[DRT]

I wonder if TFP will continue to make the Valtorto dry wines or retreat back to their Port-only stance.

[jdaw1]

25 June 2013

The Fladgate Partnership Acquires Krohn

Our parent company, The Fladgate Partnership, today acquired the family owned Port firm of Wiese & Krohn, adding another distinguished Port house to its portfolio of world renowned Port brands.

Wiese & Krohn was founded in 1865 by two Norwegian entrepreneurs and is the owner of Quinta do Retiro Novo, an exceptionally fine grade A vineyard in the Rio Torto valley. Wiese & Krohn is a specialist in colheitas, or single harvest tawny Ports, and its acquisition further strengthens The Fladgate Partnership's position as the leading producer of aged tawny Ports.

Commenting on the purchase, The Fladgate Partnership's CEO, Adrian Bridge, commented: "It is our view that the future of quality Port is very strong. The Fladgate Partnership is already responsible for over one third of all quality Ports produced by the industry, placing it in a uniquely favourable position to benefit from future growth in demand for the premium Port."

Identically-worded announcement on Taylor.pt.

Also an article in thedrinksbusiness.com.