Portugal’s Mello family is looking to purchase domestic wineries to increase its wine business as it takes advantage of a highly fragmented market in the southern European country.
The billionaire family, whose flagship brand is Ravasqueira, said on Tuesday that it had acquired the Quinta do Retiro Novo wine estate and agreed to rent the Quinta do Cotto and Paco de Teixeiro wineries in northern Portugal.
“Our goal is to become one of Portugal’s top three wine producers over the next seven years,” Salvador de Mello, chief executive officer of the family-owned holding company Jose de Mello Group, said at a news conference in Lisbon. “The wine sector in Portugal is very fragmented and we want to take part in the consolidation.”
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