Vincor buys Auckland's Crawford Wines
- Friday 16 May 2003
Vincor is one of North America's biggest wineries which over the last two years has been steadily increasing its portfolio. CEO Donald Triggs has been actively searching out and acquiring high-end wines around the New World.
The winery cost Vincor NZ$14.8m (€7.4m) for the winery's shares, with a minimum payout of NZ$3.2m (€1.6m) for the winery's founders, Kim and Erica Crawford.
In December last year Triggs snapped up Western Australia's Goundrey Wines for AU$62.5m (€34.8m). In August he bought Washington State's Hogue Cellars for US$36.4m (£26m).
Vincor also owns Niagara's Jackson-Triggs, plus a string of other wineries in British Columbia, Quebec, Ontario and New Brunswick.
Two years ago, the company teamed up with Burgundy producer Jean-Charles Boisset to make Burgundian style Pinot Noir and Chardonnay on Canadian soil.
Triggs said yesterday the acquisition neatly filled a gap in the company's portfolio. Vincor sales staff now have a premium New Zealand Cabernet Sauvignon on their lists, alongside Canadian ice wines and wines from most quality wine-producing regions of the New World.
'Our salesmen can offer a wide range of high-end wines with one visit,' Triggs said. 'Restaurants like dealing with one or two salesmen for all their products.'