Vincor gets Kim Crawford Wines

Canadian winemaker Vincor International Inc. said Thursday it will buy privately held Kim Crawford Wines Ltd. of New Zealand for C$12.3 million ($9 million) in a deal that broadens Vincor's global reach. Vincor is Canada's largest winery, while Kim Crawford is New Zealand's 10th largest. Vincor said in a statement that the deal includes a performance-based payment due in five years of at least C$2.7 million to founders Kim and Erica Crawford, who will remain with the business. Vincor has distributed Kim Crawford wines in the U.S. since 1998 through its R.H. Phillips-Hogue subsidiary. Vincor bought Goundrey Wines of Australia for C$53.7 million last year. -- Laura King