|The Bulls at Osborne's brandy bodegas (foto Cadiz Turismo)|
Friday, 18 July 2014
18.7.14 Fernando de Castilla Award; Osborne in Chinese Deal
Bodegas Rey Fernando de Castilla has won a Wines of Spain award for the best dry fortified wine. Their Fernando de Castilla Classic Manzanilla is the wine in question. Over 700 wines were tasted in various categories by a panel headed by Tim Atkin MW.
Bodegas Osborne has signed a deal with the Chinese company Fosun by which the leading private industrial conglomerate takes 20% of Osborne in the form of new capital. The aim is to fund growth as well as to give Osborne a foothold in China, and makes Fosun the Sherry firm’s largest foreign investor. This follows two other Jerez/Asian deals: Gonzalez Byass’ alliance with the Filipino Emperador Distillers and Suntory of Japan now owns Beam Global, owners of Domecq.
The Osborne family still own 80% of their firm’s shares, and this new investment will help with growth and the purchase of new spirits brands as well as reinforce the Puerto de Santa Maria firm’s brands in China. It is a strategic market with annual growth potential of 20% in imported premium brands, making Fosun an excellent ally. Three quarters of Osborne’s business is wine and spirits, while one quarter is the 5J Iberico pork business.