Bloomberg News

Fladgate Expands With Acquisition of Port Producer Wiese & Krohn

June 27, 2013

The Fladgate Partnership Vinhos SA, whose Port brands include Taylor’s, Fonseca and Croft, has bought Wiese & Krohn, a Portuguese grower and shipper of fortified wine with vintage stocks dating back 150 years.

The purchase gives Fladgate control of Wiese & Krohn’s Quinta do Retiro Novo wine estate at Sarzedinho in the Rio Torto Valley, a premium Port-producing area of the Douro region in northern Portugal, as well as stocks of five million litres of Port, according to an e-mailed statement from Fladgate.

The acquisition comes two months after Port makers declared 2011 a vintage year, a move that categorized those wines among the top 10 of the last 30 years. The Wiese & Krohn purchase further strengthens Fladgate stocks of mature tawnies and single-vintage wood-aged Ports, known as colheitas.

“The recent growth and interest in aged tawnies worldwide has fueled our interest to expand our stock and introduce a range of exceptional colheitas,” Fladgate Chief Executive Officer Adrian Bridge said in the statement. “Wiese & Krohn is widely recognized for its expertise in this field.”

The acquisition of Quinta do Retiro Novo adds to Fladgate’s vineyard properties, which cover more than 500 hectares (1,235 acres) and include Quinta de Vargellas for Taylor’s, Quinta do Panascal for Fonseca and Quinta da Roeda for Croft.

Wiese & Krohn, like Fladgate, is based in Vila Nova de Gaia, across the Douro River from Oporto and historic home to warehouses of Port shippers. No price was given for the deal.

The shipper was founded in 1865 by two Norwegians, Theodor Wiese and Dankert Krohn, as an exporter of Ports to Scandinavia and Germany, according to its website. It’s now run by the third generation of the family of Edmundo Falcao Carneiro, who joined as an export manager in 1910 and later bought the company.

To contact the reporter on this story: Guy Collins in London on guycollins@bloomberg.net

To contact the editor responsible for this story: Paul Sillitoe in London on psillitoe@bloomberg.net


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