Penfolds owner Treasury Wine Estates has acquired the Stone & Moon winery in north-eastern China for $27.5 million, spreading its bets that Chinese wine will eventually be held in the same regard as the world’s prestige wine growing regions.
The winery and cellar door comes with 43 hectares of premium vineyards and is based in Qingtongxia in China’s Ningxia Hui region.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
