Perfect China has bought the cellar and 25 hectares (21 hectares in vineyards) of the Val de Vie estate outside Capetown in South Africa. The purchase marks the first investment in the South African wine industry by an operator from China. The cellar will be expanded to increase the maturity capacity and will be used by Perfect Wines of South Africa, of which Perfect China owns a 51% stake. Perfect Wines of South Africa exported 2.8 million bottles of wine to China in 2011-2012.
To receive relevant news stories with summaries provided by GAI Research & Insight, subscribe to Global AgDevelopments, our free bi-weekly enhanced eNews service.