Chinese group buys Bordeaux wine exporter

on 25/06/12 at 9:42 am

Industry

State-owned Chinese food group Bright Food is to buy a 70 percent stake in Bordeaux wine exporter Diva to gain a foothold in the wine-making region, the French merchant said.

China, the biggest importer of Bordeaux wines, saw wine consumption soar 110 percent in 2011.

Bright Food will pay an undisclosed sum for its stake in Diva, a privately-held business that makes 45 percent of its sales in China and 60 percent in Asian markets.

FULL STORY via Reuters