Vega Sicilia Goes Shopping

It would seem that Vega Sicilia have an interesting but not unwanted problem. Despite some recent hiccups in their quality control department with the resultant replacement of 100,000 bottles at a cost of 10 million euros it would seem that they still have a war chest of 100 million euros. Such is the demand for their wine that they are looking to buy another winery in either France or California and this is on top of their joint venture with another wine making dynasty, Benjamin de Rothschild, in the next vintage of Macan in 2016.

The recent sale of a double magnum of 1999 Unico at an auction in Florida for 140,000 euros just emphasizes the popularity of their wines at the moment. Pablo Alvarez, MD of Vega Sicilia, said of any prospective winery purchase “It has to be really good” in order to excite them and it has to be a prestigious name. They have ploughed 30 million euros in to vineyard renewal, the workforce and turnover has increased by 15% in the last 5 years which is certainly bucking a Spanish and European trend. They weren’t affected by the global financial crisis because of their elite customer base and would seem to be in the mood for a major, significant acquisition. For more details please click on article below.