This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Vina Concha Y Toro Seals Strategic Alliance With Cervezas Kross

SANTIAGO, Chile , Feb. 1, 2011 /PRNewswire / -- Vina Concha y Toro (NYSE: VCO; Santiago: CONCHATORO) today reported that it has signed a trading agreement with the controller group of Cervezas Kross.

The agreement contemplates the acquisition of a minimum of 40% of the beer company. This is the first time that the Chilean winery has taken a participation in a company of a sector not belonging to the wine business and the objective will be to participate actively in the premium segment of the national beer market.

"This segment is one having the greatest growth potential in the domestic market, very much in line with international consumer trends. Kross, together with Comercial Peumo, has shown strong sales growth, increasing the presence of the brand and reaching an important standard of quality, positioning it as a benchmark premium beer for the most demanding consumer. By entering this business, Concha y Toro will be able to take Kross from its present positive situation to unimaginable growth levels, in turn taking advantage of know-how in marketing, logistics and distribution by being distributed by Concha y Toro y Toro and its commercial network," said Cristian Canevaro, general manager of Comercial Peumo, Concha y Toro's wine distribution subsidiary in Chile.

Jose Tomas Infante, general manager of Cerveceria Kross said:

"Since its beginnings, the Concha y Toro subsidiary, Comercial Peumo, has believed in our brand and helped us with the distribution of our niche beers in Chile, achieving a very successful sales performance and the construction of the brand nation-wide. This strategic alliance excites us enormously as it will enable Kross to reach all corners of Chile and more consumers can taste and enjoy our beers, helping to consolidate a beer-drinking culture. In addition, the alliance provides us with the possibility of placing our brand in foreign markets, given the solid commercial platform of Vina Concha y Toro worldwide, thus contributing to the development of the country's image."

Both companies have reaffirmed their wish to convert Cerveza Kross into a benchmark in the Chilean beer market, opening up future growth prospects for the brand.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,598.20 -91.66 -0.52%
S&P 500 2,098.04 -5.80 -0.28%
NASDAQ 5,115.3820 -12.8990 -0.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs