Changyu has bought 85% of Bethwines, the wine division of Chilean Bethia Group.

After previous acquisitions and investments in both France (Château Mirefleurs in Bordeaux) and Spain (Marques del Atrio), China’s biggest domestic wine producer, Changyu, has signed a deal with Chile’s Bethia Group.

The deal includes an 85% stake in the Bethia Group’s wine division, Bethwines, for US$50 million, to support the expansion of domestic demand for imported wines in China.

Chile exported about 142.5 million litres of wine to China last year, with Bethwines the eighth largest exporter.

Changyu’s market value is estimated at US$2.81 million more than that of Chile’s largest producer, Concha y Toro (US$1.185 million).