The Fladgate Partnership, a Portugal-based owner of three port houses - Taylor’s Port, Croft Port and Fonseca Porto, has acquired port wine producer Wiese & Krohn of Portugal for an undisclosed amount.
The purchase includes Wiese & Krohn's brand, stocks and vineyard holdings, including stocks of aged tawnies and colheitas dating back to 1863 as well as Quinta do Retiro Novo, a Grade A-classified vineyard, in the Rio Troto Valley in the Douro.
Wiese & Krohn stocks currently include approximately five million liters of port, which are stored in six cellars in Vila Nova de Gaia and in one cellar at Douro.
Previously owned and operated by Falcao Carneiro family, Wiese & Krohn also produces still red wines in the Douro under the Valtorto brand.
The move by Fladgate is part of its long term investment and to toughen its position in the aged tawnies sector.
The Fladgate Partnership CEO Adrian Bridge said the recent growth and interest in aged tawnies worldwide has fuelled their interest to expand their stock and introduce a range of exceptional colheitas to their portfolio for the first time.
"Wiese & Krohn is recognised for its expertise in this field and the acquisition of the company includes the highly desirable grade A vineyard of Quinta do Retiro Novo, in the Rio Torto Valley," Bridge added.
"The acquisition of Wiese & Krohn demonstrates our confidence in the market for premium port and will further strengthen our ability to service future growth in this segment."
