Advertise with fastmoving.co.za
 
 

China's wine deal in SA
China's wine deal in SA

China's wine deal in SA

FMCG SUPPLIER NEWS

Fin24.com - Dec 6th 2013, 08:49

Cape town - Following on China’s recent significant investments in the French wine industry, especially in Bordeaux, they have also made their first investment in the South African wine industry. 

Perfect China, the 51% shareholding partner in Perfect Wines of South Africa, has purchased the wine cellar at Val de Vie Estate in the Cape Winelands, between Paarl and Franschhoek.

The purchase also includes a 25ha wine farm with 21ha of vineyards and the historic manor house dating back to 1783.

The cellar facilities will be used by Perfect Wines of South Africa, a joint venture that was formed in 2011 between Hein Koegelenberg, of Leopard’s Leap, and Perfect China in Yangzhou.

The L’Huguenot brand was born out of this joint venture and has already been responsible for the export of 2.8 million bottles of wine to China in 2011 and 2012.

This amounts to about 25% of the total annual South African wine exports to China.

Perfect China distributes the L’Huguenot wine brand in the Far East with a direct sales team of more than a million agents and via 5 000 depots in China as well as infrastructure in Malaysia, Thailand, Hong Kong, Indonesia, Singapore, Taiwan and Vietnam.

“The Chinese wine market is very important to our industry and this first Chinese investment in the South African Winelands is a clear indication of their interest in our wines and can lead the way to a bright future for the export of SA wine to the East”, said chair of Perfect Wines of South Africa, Hein Koegelenberg (also CEO of La Motte and Leopard’s Leap Wine Estates).From Fin24.com  

Related News

Alibaba results beat estimates on cloud, e-commerce growth
19/08/2019 - 14:08
China’s Alibaba Group Holding Ltd reported better-than-expected quarterly revenue and profit, aided by growth in its e-commerce and cloud computing businesses.

Lidl introduces reusable fruit and veg bags
15/08/2019 - 11:29
The ‘Green Bags’, priced at 69p for two, provide customers with a reusable alternative to single-use, small fruit, and vegetable bags.

Nestlé and Starbucks tie-up heads to China
08/08/2019 - 09:31
Nestlé plans to introduce its first range of Starbucks-branded products in China, as part of a global tie-up that will help bolster the Swiss company’s proprietary Nespresso capsules in one of its fastest-growing markets.

Boost for SA's economy as China lifts its beef ban
07/08/2019 - 09:10
Within one month of the meeting between President Cyril Ramaphosa and President Xi Jinping at the G20, China has announced that it is lifting the ban on South African beef exports to China. This will be a major boost to South Africa’s economy given that China is the largest consuming market for South African beef and related products.

Swine fever epidemic may slash China's pig herd by half
30/07/2019 - 10:52
China’s pig herd could halve by the end of 2019 from a year earlier as an epidemic of African swine fever sweeps through the world’s top pork producer, analysts at Dutch bank Rabobank forecast.