Canadians Purchase Telteca
The news is about Agostino Winery. The brand and distribution network of the high end line from Mendoza was acquired.
Finca Agostino Winery was acquired for a sum that was kept under strict confidentiality, the recognized high end wine brand Telteca and its distribution network including the commercial and technical team, lead by Alberto Antonacci (ex Executive Director of Viñas Argentinas, Inc.).
The acquisition of the Telteca brand and its commercial network was a project studied for a long period of time. “We are interested in the Telteca brand for its rapid growth in recent years, and we are very proud of having acquired and added such a successful work team to our project,” brothers Miguel and Sebastiano Agostino commented.
The Telteca brand was launched in 2004 and grew with a surprising rhythm in the last four years (500%), currently invoicing US$ 4.5 million with a presence in more than 35 countries.
Finca Agostino is property of an Italian family’s business located in Canada, were they control a well-known construction company. Brothers Vincenzo, Sebastiano, Miguel and their sister Rosalía Agostino, continuing the family tradition, somewhat secretly initiated the construction of an extremely successful vine-growing project in Barrancas, Maipú.
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With an initial investment of greater than US$6 million they purchased 170 hectares of 57 year old vineyards in 2004 in Barrancas, Maipú. Beginning in 2005 the studio of Architect Ignacio Campoy initiated the construction of an elegant and modern high end winery and they added 50 hectares of vineyards with the estate La Serafina in the town of La Consulta.
The winery today includes a vessel capacity of 2.5 million liters, among stainless steel tanks, epoxy subterranean basins and French oak barrels and it is directed by José Venturín. The enologist Norberto Richiardi is in charge of enological advising.
Source: Diario Los Andes
Permanent Link: http://losandes.com.ar/notas/2008/12/7/economico-396522.asp
