Changyu snaps up Spanish wine firm

Yantai Changyu Pioneer Wine Co Ltd, a leading Chinese wine producer, has stepped up its overseas moves with the acquisition of Marques del Atrio, a wine company in Spain.

Changyu, which has more than 100 years of history, was established in 1892 by Chinese diplomat Zhang Bishi. Since then, it has made its presence felt at several international exhibitions.

Marques del Atrio products have been sold to more than 40 countries, with overseas revenue accounting for about 55 percent of its total revenue. The Spanish wine company also has close ties with leading global retailers like Carrefour SA and Tesco Plc.