Viña Concha y Toro bought 50% of the North American distributor Excelsior Wine Company

Viña Concha y Toro informed the Commission for the Financial Market (CMF) of the acquisition of 50% of the American company Excelsior Wine Company.

By an essential fact, the Chilean company specified that the value of the operation would reach 40.5 million US dollars, of which 20 million US dollars were paid in cash on Monday and that the balance will be canceled in the year following the same date.

According to the company, "we do not see the effects on the badets and liabilities of the company.The company is still in the process of determining the clbadification of the acquisition in the various accounts of the company. badets, an important part of this intangible price, considering that it is a distribution company with a low level of working capital 19659003] Viña Concha y Toro indicated, at in turn, that the cash quota of the transaction was temporarily financed by a loan contracted by the subsidiary VCT USA Inc. The rest, he said, "is financed by the payment period granted by the seller. In any case, according to the company's budgets, this debt will not affect its financial debt index.

Finally, he noted that "the materiality of the transaction lies mainly in the savings and synergies that the company will involve for the company. the fact of bringing together in a single operation the distribution in the United States of all the brands of the company "in this country".