The family-controlled Symington Group, which owns the Graham's, Cockburn's and Dow's port brands, among others, has acquired the 150 hectare Quinta do Carrascal estate in the Duoro valley.
Symington Family Estates announced the acquisition of the farm adjacent to the 101 hectare Quinta de Ataide already owned by the family.
Quinta do Carrascal consists of an olive grove of about 52 hectares, 33 hectares of vineyards, 13 hectares for varied agricultural production and 27 hectares of natural vegetation.
"They may think we're crazy about investing in more vineyards at this time of crisis, but we believe there is always room for a good port and always for better Douro wines," emphasised the Symington family, in today's statement.
"We rather like the environment and nature in this remote valley and this was an opportunity we could not miss because we well know the quality of the wine from this important sub-region," said the Symingtons.
The new acquisition, "reinforces the leadership position of the Symington family in the production of Douro wines and is further evidence of its commitment to the demarcated region and wines that are produced there."
The involvement of the Symington family in the port and wine business dates back to 1652 through fourteen generations.
