Sharechat Logo

Foster's buys top Californian winemaker

By Phil Boeyen, ShareChat Business News Editor

Tuesday 11th September 2001

Text too small?
Foster's wine business, Beringer Blass, is targeting the high-end niche market with its latest acquisition.

Beringer's has bought a Napa Valley wine producer, Etude Wines, which it describes as an ultra-premium producer of pinot noir and cabernet sauvignon.

The company says Etude's revenue has almost doubled in the past two years and is expected to deliver strong revenue growth and capital returns.

Beringer executive, Walt Klenz ,says Etude is one of the most highly respected wineries in California.

"Etude's focus on ultra-premium pinot noir and cabernet sauvignon is an ideal complement to our existing portfolio of California wines.

"With an outstanding reputation among wine and food aficionados in the US, the Etude pinot noir range will give us a distinctive edge in an increasingly attractive category."

Mr Klenz says only a handful of coastal wineries focus on the luxury segment of the pinot noir market, where high prices and allocations are the rule, with competition is limited to Burgundy, California and top Oregon wines.

Etude's pinot noir ranges retails from between US$38 to US$80 per bottle.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

SML - Synlait Milk Limited - Trading Halt of Securities
AIA - Auckland Airport announces board chair changes
AIA - Auckland Airport announces board chair changes
CEN - Tauhara commissioning progress update
FPH initiates voluntary limited recall
March 28th Morning Report
KFL Celebrates 20 Years of Excellence in Investment Mgmt.
SVR - Savor FY24 Earnings Guidance & Change in Banking Partner
NZK - NZ King Salmon Investments Limited FY24 Results
March 27th Morning Report