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在线翻译:
szdaily -> Business_Markets
China’s largest winery buys stake in Aussie winemaker
    2018-January-31  08:53    Shenzhen Daily

THE country’s largest wine producer, Yantai Changyu Pioneer Wine Co., is purchasing 80 percent of Kilikanoon Estate Pty. Ltd. of Adelaide, Australia, at US$16.45 million.

The move will further enhance the Chinese winery’s global portfolio and help meet Chinese consumers’ growing demand for quality wine.

The financial details of the deal have not been revealed. Kilikanoon’s chief wine operator Kevin Mitchell and managing director Warrick Duthy will retain their shares and stay on in their positions.

This is Changyu’s 5th overseas acquisition, after the Yantai-based wine producer expanded its global reach to wineries in France, Spain and Chile, according to Zhou Hongjiang, chairman of the company.

Founded in 1997, Kilikanoon is located in Australia’s famous wine-producing Claire Valley. The vineyards produce brands such as its intense Riesling and expressive Shiraz and Cabernet Sauvignon, with about 100,000 cases in annual production.

Currently, about 10 percent of Kilikanoon’s total production is sold to China, and the figure is expected to reach 50 percent as production increases.

“China’s wine market is one of the fastest growing markets in the world. Changyu must seize the market opportunities created by the new consumption pattern, and constantly meet the consumer demand of Chinese consumers for wine diversification,” Zhou said.

In recent years, sales of overseas wines have seen an upsurge in the Chinese market. At the moment, Australian wine is a key player in the Chinese market.

It is predicted that under the policy of the Sino-Australian free trade area, the wine trade tariff will further decrease in 2018, and will be reduced to zero after Jan. 1, 2019, further enhancing the edges of Australian wine in the Chinese market.(SD-Agencies)

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