Wine company Constellation Brands said it sold certain US wine assets to Eight Estates Fine Wines, LLC, for $209 million in cash. The company said it could receive up to another $25 million if certain objectives are achieved by Eight Estates. (Source: CNN Money.com)

In Virginia, especially thanks to the increasing of the acreage between 2001 and 2007 from 1 700 acres to 2 790, the wine grape production jumped by 35% in the same time from 4 200 tons to 5 600. Last year, Virginia’s wine grape crop was valued at $7.8 million. There are 130 wineries in Virginia, which is the USA’s fifth-largest producer. (Source: Dailypresss.com)

Egypt had the best year for spirits since the beginning of the century. Increasing tourism and economic growth are driving consumption up. In 2007, total spirits sales in Egypt rose by 8.4% to around 880 000 nine-litre cases. (Source: IWSR)

Margaret Duckhorn of Duckhorn Vineyards has been elected chair for the year 2008-2009 of the Wine Institute which represents some 1,100 wineries in California and it says account for 95% of the state's production and 85% of US production. (Decanter.com)

In 2006-2007, sales of spirits in Canada amounted to 4.5 billion dollars, an increase of 5.8% compared to 2005-2006. This growth is mainly due to a 10% increase in vodka sales. Over the period, the volumes of spirits sold increased by 1.8% to reach 206.1 million litres. (Source: Le Quotidien)

The beverage that is most preferred by top managers is wine. This is true in record proportions in two major producer countries: France where 82% of top managers prefer wine and Italy where 81% of top managers declare this preference. Top executives in other countries also massively prefer wine: Belgium (72%), the Netherlands (70%) and UK (67%). However, only 31% of  German top managers say they like wine best. (Source: VSB)

A wine auction in Hong Kong has raised an Asian record of more than 8 million dollars, highlighting the region’s growing passion for fine vintages. “The sale was a landmark event in the history of the wine market in Asia. The result is a testament to the strength of the wine market in Asia and Hong Kong’s leading role as a regional hub of fine and rare wines”, said the auction director. (Source: AFP)