The Chinese conglomerate, Yantai Changyu Pioneer Wine, has recently bought a Chilean group that includes a winery from Argentina.
Yantai Changyu Pioneer Wine is the oldest and larger wine company in Asia. They payed USD50 millions in June 2017 to obtain the wine cellar arm of the Chilean group Bethia, owners of Dos Andes wine cellar, located in Neuquén Argentinean province, with capacity of 2.3 million litters.
Nowadays, Yantai Changyu Pioneer Wine produces more than 130,000 tones of wine per year with 10,000 distribution points in China.
The objective of the Chinese group is to use Chile as a port of entrance into the LATAM market. It is believed that the Asian group will purchase other wine cellars in Argentina in the near future.
This agreement makes Los Andes the first Chinese inversion in Argentina wine market.
Source: El Cronista, Argentinean Newspaper
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