The Fladgate Partnership, which owns the port houses Taylor’s, Fonseca and Croft and holds more than 500 hectares of vineyards in the Douro, sees this as a long term investment and one which strengthens its position in the aged tawnies sector.
Fladgate CEO Adrian Bridge said: “The recent growth and interest in aged tawnies worldwide has fuelled our interest to expand our stock and introduce a range of exceptional colheitas to our portfolio for the first time.
“Wiese & Krohn is recognised for its expertise in this field and the acquisition of the company includes the highly desirable grade A vineyard of Quinta do Retiro Novo, in the Rio Torto Valley.”
Wiese & Krohn has been owned and run by the third generation of the Falcão Carneiro family. Its stocks include around five million litres of port which are stored in six cellars in Vila Nova de Gaia and one in the Douro. These stocks, its operating systems and the team at Wiese & Krohn will be fully integrated into the Fladgate Partnership.
“The acquisition of Wiese & Krohn demonstrates our confidence in the market for premium port and will further strengthen our ability to service future growth in this segment,” said Bridge.