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Vincor Expands  (November 19, 2002)

Canada's largest winery, Vincor International, just got bigger. The company has acquired Goundrey Wines in Western Australia for $53.7 million. Goundrey sells upwards of 250,000 cases in the premium and super-premium categories.

The purchase of Goundrey is part of an aggressive strategy by Vincor's President and CEO, Donald Triggs, to create a billion-dollar company within five years (they're closing in on the $500 million mark now). Vincor already owns R.H. Phillips in California and Hogue Cellars in Washington State.

"This acquisition," says Triggs, "is an important milestone in our international strategy to expand operations to all New World wine regions. Australian wine is the fastest growing segment of the international wine market and Western Australian wineries, Goundrey in particular, continue to demonstrate the ability to produce and market large quantities of premium and super premium branded wines."

Last year, Canadians purchased 2 million cases of Australian wines, and to date the increase for 2002 has been 24 per cent. In the U.S. the growth has been 35 per cent. At Vincor's AGM, Donald Triggs outlined his projection for the sale of Goundrey wines in North America and other markets: "Based on the strong continued growth that is available for Goundrey in export markets, our goal is to double Goundrey's revenues within five years. We intend to accomplish this goal by developing a strong export business of over a hundred thousand cases annually and by migrating Goundrey's overall portfolio to the high end of the super premium segment."

Given Canadians' love affair with Australian wines, this may well be within reach.

Vincor's holdings in Canada include Inniskillin Wines in Ontario and Sumac Ridge and Hawthorne Mountain in British Columbia. Analysts are wondering where Vincor might be shopping next. Chile? New Zealand? South Africa?

 

 

 

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