Concha y Toro’s U.S. Sales Jump 23% Through First Three QuartersNovember 3, 2020
Concha y Toro enjoyed robust gains in the first three quarters of its fiscal year, with total wine sales up 21% to $691 million in the nine months through September on a volume increase of 6.6% to approximately 26 million 9-liter cases. EBITDA leapt 53% to $140 million, with the company benefiting from an improved sales mix and a positive foreign exchange effect.
The Chile-based winemaker’s U.S. business, operating under the Fetzer Vineyards Co. banner, grew by 23% to $123 million in the nine-month period, including a 14% increase in the most recent quarter. The company said it saw rapid U.S. volume growth for import labels including Casillero del Diablo (+32%), Diablo (+44%), Trivento Reserve (+9%), and Frontera (+9%) in the three months through September.
Additionally, California wines Bonterra and 1000 Stories were both up about 40% by volume in IRI channels in the 52 weeks through October 4, while the Fetzer brand slipped 1.8%. Concha y Toro noted that Fetzer’s Hopland-based vineyards and winery in Mendocino County have been unaffected by the wildfires in the California wine country, although the company is monitoring all wines to guard against smoke taint.—Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.