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VC Family Estates makes major Argentine investment

Viñedos Corpora Family Estates (VC Family Estates) has invested $15 million (£8.7 million) in vineyards in Patagonia as part of its drive to produce "exceptional" malbecs and pinot noirs.

The Chilean family enterprise, which owns premium vineyards in six of Chile's valleys, has invested the money in buying Bodega Universo Austral in Neuquén and vineyards in the Province of Río Negro. All of the vineyards are situated in Patagonia.

With the new investment, VC adds two new brands to its stable: Calafate, which will be produced in Neuquén, (with an RRP of £6.99) and Chaltén, which will be produced in Río Negro (with an RRP of £7.99- £8.99). Calafate is listed with Fullers and Chaltén will be available in the on-trade through Hallgarten.

The ranges will include chardonnay, sauvignon blanc, pinot noir and malbec. Future brands, in particular for the off-trade, are also expected to emerge from VC's Patagonian wineries.

The wines from Neuquén come from eight-year-old vineyards and the Río Negro vineyards correspond to the first wine producing regions in the country.

Jorge Goles, CEO of VC Family Estates, said: "Since VC is the first Chilean enterprise to invest in the region, it intends to position itself as a strong leader of fine wine production in cool-climate terroir, in the southernmost region of the world.

"We start with Bío Bío (Chile) which is situated at latitude 38 south, continuing through the mountain range to start production in the Neuquén valley in Argentina. Both valleys are completely different, thus allowing us to widen our offers of terroir."

With a total of $23,367 million (£13,511 million) invoiced and approximately 700,000 boxes sold in 2007, VC says it expects to be amongst the 10 main local wine exporters by the end of 2008 and to be, through its six wineries, the main exporter of Gran Reserva pinot noir and malbec within the next five years.

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