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Article: Argentina: Pe=F1aflor acquires La Rosa.
- Article from:
- South American Business Information
- Article date:
- July 2, 1999
CopyrightCOPYRIGHT 1999 COMTEX News Network, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Beverages major Pe=F1aflor has acquired a 60% stake in the winery Bodega La Rosa that has the fine wine brand Michel Torino, and will incorporate its assets in the recently created winery Bodegas y Vinedos Andinos. The deal was closed at US$40mil, with Lavaque family, the former controller of La Rosa, receiving US$24mil, of which US$10mil used to settle liabilities, and will have a 40% share in the new company. Based in Salta province, La Rosa posted in 1998 sales of US$28mil, has 3,800 ha of land ready to grapes plantation, and a capacity for 28mil liters py. The next step of Penaflor group will be to try the acquisition of Santa Ana winery controlled by the Chilean ...
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