[caption id="attachment_28104" align="alignleft" width="225" caption="(courtesy of CF Napa)"][/caption]
HOPLAND -- Chilean wine company Vina Concha y Toro S.A. (NYSE: VCO) today said it completed the purchase, announced last month, of Mendocino County-based Fetzer Vineyards and related California assets from Brown-Forman Corp. in a deal valued at $238 million.
"For Concha y Toro, the future development of the brands of Fetzer Vineyards is an important challenge, something to which Concha y Toro commits all its effort and energy to continue with the history of quality which it has already deservedly earned," said Eduardo Guilisasti, chief executive officer of Concha y Toro. "I am sure that the joint work teams of Concha y Toro and Fetzer Vineyards will be capable of continuing toward a new stage of development. And the integration of this operation will enable us to incorporate the culture of excellence and commitment of Fetzer's team, also continuing to strengthen links with its surroundings and community, in this beautiful zone of Mendocino."
The purchase includes the Fetzer, Bonterra, Five Rivers, Jekel, Sanctuary and Little Black Dress wine brands. Last year, production totaled 3.1 million cases; and sales, $156 million.
Also part of the deal are 429 hectares (1,060 acres) of owned and leased vineyards in Mendocino County, warehouses and production capacity for 36 million liters (9.51 million gallons) and a bottling plant at the main facility in Hopland as well as 6 million liters (1.59 million gallons) in Paso Robles.
Fetzer employs about 260 people.