Joint venture

The English term refers to a joint venture or cooperation between at least two companies ("joint venture"). In most cases, a new, legally independent business unit is founded in which the founding companies (two or more) participate with their capital. Each of the partners brings in special know-how and resources, which together create a synergy effect. This allows risks and costs to be shared among the participating companies or enterprises. In viticulture, in connection with globalisation, this is increasingly a form of cooperation between mostly larger companies or wineries.

One of the earliest and best-known examples in the wine scene is the Opus One joint venture started in 1979 by the two wine legends Baron Philippe de Rothschild (1902-1988) and Robert Mondavi (1913-2008) to produce a top Bordeaux-style red wine in California. From the 1990s onwards, many joint ventures were established, mainly in new wine-growing regions, most of them in South America (Argentina, Brazil, Chile, Mexico) and Asia (China, India). Examples are Almaviva in Chile (Château Mouton-Rothschild and Concha y Toro), Bodegas Caro in Argentina (Catena Zapata and Domaines Barons de Rothschild) and Dynasty in China (Rémy Cointreau and Chinese investors).

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Joint venture

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