Reading Time: < 1 minute Canada and Switzerland have reached a deal to recognize each other’s organic certifications on wine and “multi-ingredient” foods. The two countries on Thursday announced expansions of their previous organic arrangement, which deems their respective certification systems to be equivalent for organic ag commodities and agrifood products. The amended deal takes effect Saturday (Oct. 1). The […] Read more
Switzerland to recognize Canada’s organic wine, processed foods
Constellation seeks $1B valuation for Canadian wine unit
Reading Time: < 1 minute Reuters — Constellation Brands is seeking a valuation of about $1 billion for a possible initial public offering of its Canadian wine business this year, Bloomberg reported on Friday. The unit, which includes eight wineries and 160 retail locations across Ontario, is expected to list in Toronto as early as the fall, Bloomberg reported, citing […] Read more
Italy’s Ferragamo suing ex-Als QB over same-name winery
Reading Time: 2 minutes Reuters — Salvatore Ferragamo SpA, the Italian luxury goods maker, on Wednesday sued former Montreal Alouettes and Los Angeles Rams quarterback Vince Ferragamo, saying he infringed its trademarks by operating his namesake winery in southern California. Consumers are likely to be confused into thinking the Ferragamo Winery and Ferragamo SpA are related, the Italian company […] Read more
Nova Scotia pledges food donation tax credit in budget
Reading Time: 2 minutes A tax credit for Nova Scotia farmers who donate produce to local food banks is among the policy plans laid out in the province’s latest budget. Finance Minister Randy Delorey’s budget on Tuesday showed an overall $17.1 million net surplus position on $10.15 billion in total expenses and $10.26 billion in total revenues (minus $110.3 […] Read more
World wine trade buoyed by rebound in China demand
Reading Time: 2 minutes Paris | Reuters –– Wine exporters toasted an upturn in Chinese wine consumption in 2015 after a two-year decline, as a growing taste there for reds helped global wine trade expand, the International Vine and Wine organization (OIV) said Monday. Chinese imports jumped 44 per cent to 5.5 million hectolitres, while overall consumption in the […] Read more
Wine, foreign content now covered in organic pact with EU
Reading Time: 2 minutes The deal that clears Canadian-certified organic food for sale as organic in the European Union is now expanded to cover Canadian-processed products with some imported ingredients — and to include organic wine. Canada’s Agriculture Minister Lawrence MacAulay and EU Agriculture Commissioner Phil Hogan on Thursday confirmed the expansion of scope for the EU-Canada Organic Equivalence […] Read more
Constellation considering Canadian wine IPO
Reading Time: 2 minutes Reuters — Constellation Brands said on Wednesday it was considering taking a part of its Canadian wine business public and reported better-than-expected quarterly net sales, helped by strong demand for its premium Corona and Modelo beers. Shares of the New York-based wine, beer and spirits company, which forecast full-year profit largely above estimates, rose as […] Read more
French co-op InVivo plans U.S. wine deal, more food shops
Reading Time: 2 minutes Paris | Reuters –– French agricultural group InVivo is looking to acquire a wine distributor in the U.S. and could open up to 200 food shops in its home market as part of plans to double in size within a decade, InVivo’s CEO said on Tuesday. InVivo entered the wine sector this year through the […] Read more
Bayer expects to compensate grape growers over crop damage
Reading Time: 2 minutes Zurich | Reuters — Bayer expects to pay wine growers compensation starting early next year after vineyards in Austria, France, Germany, Italy, Luxembourg and Switzerland reported 2015 crop damage possibly linked to one of the company’s fungicides. European grape growers reported deformed leaves and lower yields after using Bayer CropScience’s Moon Privilege, also known as […] Read more
Treasury Wine to buy Diageo U.K., U.S. wine assets
Reading Time: < 1 minute Sydney | Reuters –– Australia’s Treasury Wine Estates, the world’s biggest standalone wine maker, said Wednesday it had agreed to buy most of Diageo Plc’s U.S. and British wine operations for US$552 million (C$716 million). Treasury also announced a fully underwritten rights issue to raise around A$486 million (C$460 million) to fund the acquisition. The […] Read more
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