Concha y Toro Returns to Growth Mode in a Lingering Wine Glut
- Chile-based winemaker is upgrading lower yielding vineyards
- Deal opportunities may arise in this stage of cycle, CFO says
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Top Latin American winemaker Vina Concha y Toro SA is back in growth mode after a two-year slump marked by a global wine glut, with the Santiago-based firm upgrading vineyards, adding new products and being open to dealmaking.
The maker of the Don Melchor and Casillero del Diablo labels expects sales volume to grow around 8-12% this year, after dropping 5.7% last year, Chief Financial Officer Osvaldo Solar said in an interview from the company’s Santiago office on Thursday.