|Grapegrower & Winemaker||Wine & Viticulture Journal||Wine Industry Directory||
||Daily Wine News||
Angove’s turnover milestone and historic export deal
Subscribe to Daily Wine News e-mail
Browse the DWN Archive by date
Angove’s has signed an historic export deal with the United States expected to boost its turnover by 20%. The deal recently signed in Honolulu with the fifth largest winery in the United States, Trinchero Family Estates, comes as Angove’s announced a record annual sales result on the back of a strong export performance. The United States is already a significant export market for Angove’s but with a major partnership now in place with Trinchero the potential for greater market penetration and sustained growth than in the past is very real. Sales in the last year to the US have grown 400% as a result of Angove’s initial trade with Trinchero. For the 12 months to 31 August, 2005, Angove’s recorded total sales of $51.5 million, up from $46 million the previous year, and at a time when the Australian wine industry is facing significant challenges. The domestic market remained steady despite an increasingly competitive environment. In the 12 months to 31 August, 2005, Angove’s recorded a 20% increase in wine exported to Asia and Europe. Domestically, Queensland was the fastest growing state for Angove’s, with sales growing at 9%.