WEBVTT - Pangaea Partners on Celebrating National Red Wine Day

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, radio news. This is Bloomberg Business

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<v Speaker 1>Week with Carol Messer and Tim Stenebek on Bloomberg Radio.

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<v Speaker 2>Ah, you hear that song, You know what it means?

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<v Speaker 2>Maybe a little bit of red wine. That's exactly what

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<v Speaker 2>we have here in the Bloomberg Interactive Broker's Studio. Pangaea

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<v Speaker 2>It's a Greek word that means all the Earth. It

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<v Speaker 2>was used to describe a super continent that existed two

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<v Speaker 2>hundred and forty million years ago, made up of all

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<v Speaker 2>the continents and land masses that are now separate. The

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<v Speaker 2>name comes from the Greek words pan, which mean all,

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<v Speaker 2>in gaya, which mean earth. It'll all makes sense as

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<v Speaker 2>we bring in our next guest, and I know my

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<v Speaker 2>coast Carol Masser is very very sad to be missing this.

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<v Speaker 2>She talked with one of our guests about a year

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<v Speaker 2>ago and yes, sampled some wine. I believe she even

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<v Speaker 2>kept the bottle because the labels alone are gorgeous. Joining us.

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<v Speaker 2>Now back with us Travis Braithwaite, the founder of Pangaea States,

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<v Speaker 2>as well as Pangaa States partner Michelle Roland from the

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<v Speaker 2>Napa Valley. It's good to have both of you with us.

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<v Speaker 2>How are you great?

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<v Speaker 3>Thanks?

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<v Speaker 2>Thank you, yeah, thanks thanks so much for joining us

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<v Speaker 2>talk a little. You know, we have wine guests frequently,

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<v Speaker 2>frequently on Friday, thanks to our producer Paul Brannan, who

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<v Speaker 2>knows what we love on a Friday afternoon. But when

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<v Speaker 2>you think about the market out there, Travis, there're no

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<v Speaker 2>shortage of wines to choose from. It's an incredibly competitive market.

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<v Speaker 2>How do you make Pangaea wine stick out?

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<v Speaker 3>That's true, it is a competitive market.

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<v Speaker 4>I think.

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<v Speaker 3>I think our unique selling point is the innovation and

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<v Speaker 3>the way we've changed what we do. We've changed the

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<v Speaker 3>norm We've stepped a little bit away from tradition and

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<v Speaker 3>we've created something that's a world fast.

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<v Speaker 5>I want to bring you in now, Michelle, into the

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<v Speaker 5>conversation too, because you know, it was just pointing out

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<v Speaker 5>our producer Paul Britain. He also Paul was giving us

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<v Speaker 5>the heads up here that on August twenty eighth, so

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<v Speaker 5>next Wednesday, National Red Wine Day, also conveniently same day

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<v Speaker 5>as in video is earning. So if anybody needs some

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<v Speaker 5>wine potentially after those results there you maybe it'll be

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<v Speaker 5>in video shorts, you know, right right, we'll have to

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<v Speaker 5>see what happens there, but wanted to point that out there.

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<v Speaker 5>But Michelle, it comes to your when it comes to

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<v Speaker 5>what you do here, give us kind of a background

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<v Speaker 5>of how y'all got to this point to our listeners

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<v Speaker 5>who might not know kind of the background of what

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<v Speaker 5>y'all do here.

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<v Speaker 4>Huh, that's it.

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<v Speaker 6>We need a long time. That's a long background now.

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<v Speaker 6>But in fact, my job is winemaker. And you know,

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<v Speaker 6>we inventor on flying wine maker just for me because

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<v Speaker 6>because I was doing wine in a so many countries

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<v Speaker 6>twenty two in in all my life. And when I

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<v Speaker 6>met Travis to do to do Pangaea program.

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<v Speaker 4>You know, when you are getting old like I am,

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<v Speaker 4>you need you need something.

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<v Speaker 6>You need something attractive or or new or interesting and

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<v Speaker 6>and and to blend, to blend different wine from different country.

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<v Speaker 6>What was for me attractive because I did so many

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<v Speaker 6>brands in Bordeaux, in in Italy, in Spain, in California

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<v Speaker 6>or everywhere in the world. And and to do to

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<v Speaker 6>do blending between between five different countries, what was was

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<v Speaker 6>crazy enough to seduce me. And and so that's why

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<v Speaker 6>I said to Travis, you are the man for the

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<v Speaker 6>logistic But I am the man for the blending, and.

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<v Speaker 4>So here we are and we are very happy.

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<v Speaker 2>Well one of my sure our viewers and listeners understand

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<v Speaker 2>exactly what's going on, So correct me if I'm wrong.

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<v Speaker 2>But the blend of grapes includes grapes from the blend

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<v Speaker 2>of wine includes grapes from five different countries, Travis, Is

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<v Speaker 2>that right?

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<v Speaker 4>Yes?

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<v Speaker 3>So it's it's a classic border style blend. So Cabinet

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<v Speaker 3>Frank from South Africa, Pativado from Spain, Malbeck from Argentina,

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<v Speaker 3>Murder from border of France, and Cabinet Savion from Napavelli

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<v Speaker 3>in the US.

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<v Speaker 2>So it's about thirty three percent, Cabinet Samon thirty nine

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<v Speaker 2>percent or low nineteen percent, mal Back, Cabinet franc six

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<v Speaker 2>percent and petite Ferdh three percent.

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<v Speaker 3>Yes, on the vintage you have, Okay, that's the.

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<v Speaker 2>Twenty sixteen.

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<v Speaker 4>Year.

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<v Speaker 2>Okay, how does it? How has it changed in recent years?

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<v Speaker 4>I mean?

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<v Speaker 2>And why does it change?

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<v Speaker 4>Depends of my humor.

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<v Speaker 2>You're the boss, but really, I mean, how do you

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<v Speaker 2>how do you know? How do you know? Wine takes

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<v Speaker 2>a long time to me make, so how do you

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<v Speaker 2>know what you want? In terms of the blend?

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<v Speaker 3>You ahead of time, so we know what we want

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<v Speaker 3>from the wine itself. We want something harmonious, balanced, powerful,

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<v Speaker 3>elegant and with structure. So we kind of go into

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<v Speaker 3>it knowing the style of wine we want to make,

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<v Speaker 3>and the blend is made at the time, we sit

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<v Speaker 3>and try each of the varieties and whatever is standing out,

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<v Speaker 3>and Michelle is in the master of the blend. We

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<v Speaker 3>create the perfect wine from the components that we have

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<v Speaker 3>every year.

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<v Speaker 2>All right, Well, I've got the twenty sixteen Red Blend

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<v Speaker 2>in my hand. I'm going to pull a Carol Master.

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<v Speaker 2>I'm going to do my best Carrol Master and try

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<v Speaker 2>to put the work on the air without Now I'm

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<v Speaker 2>very self conscious.

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<v Speaker 7>Hold on, hold right, oh, perfect, Okay. I would say

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<v Speaker 7>the timing in hindsight, the time wasn't great. There was

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<v Speaker 7>a little too much sence though. Yeah, maybe set it

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<v Speaker 7>up well. But all right, so Jess you ask a question.

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<v Speaker 2>Well, I'm going to pour some samples for ourselves, because

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<v Speaker 2>you know it's Friday afternoon.

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<v Speaker 5>Yes, thank you, and then you can pour me one

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<v Speaker 5>as well. Travis, I wanted to bring you back into

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<v Speaker 5>the conversation, talk to us about what's distinctive about each

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<v Speaker 5>Red grape component here.

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<v Speaker 3>So with each of the components in the blend, we

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<v Speaker 3>particularly picked the regions of the world where it's grown

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<v Speaker 3>because the region and the terwir in each place allows

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<v Speaker 3>the grape to ripen the best and show itself the best.

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<v Speaker 3>So what you have in the bottle is a real

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<v Speaker 3>representation of each of the varieties showing off the best

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<v Speaker 3>it can.

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<v Speaker 5>And Michelle will kind of build on this too, because

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<v Speaker 5>how are the blending sessions for the twenty two vintage

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<v Speaker 5>progressing at this point?

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<v Speaker 6>Blenny two and we just be we we are were

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<v Speaker 6>you know every years, almost the same. We have we

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<v Speaker 6>have the wine, we have the wine coming. That's very important.

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<v Speaker 6>What what mentioned Travis. Each wine is done to be

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<v Speaker 6>blended one day in in in Pangaea. So so the

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<v Speaker 6>cap Front is coming from from South Africa. We we

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<v Speaker 6>are doing it thinking we we have to blend one day.

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<v Speaker 4>Pativiado is coming from Spain. We do it. We do

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<v Speaker 4>it for that Mellow is from France. I'm close to

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<v Speaker 4>to it because because.

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<v Speaker 6>I know very well Bordeo and Mellow in Bordeaux, melbag

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<v Speaker 6>from Argentina.

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<v Speaker 4>So we are making the wine first and and.

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<v Speaker 6>After that we we tried to put in the same

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<v Speaker 6>room all all the all the components we taste and

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<v Speaker 6>we try to to see in which way we are

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<v Speaker 6>going to make the brand. That's why I mentioned before

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<v Speaker 6>is variable. We don't have a percentage of each variety

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<v Speaker 6>the same every year.

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<v Speaker 4>We can do that. We are doing the best wine,

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<v Speaker 4>the best wine. We use the five varieties.

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<v Speaker 6>But we can we can law or increase some some

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<v Speaker 6>cabinets of mail bag and we have we had already

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<v Speaker 6>since fifteen to twenty one, we had every year different

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<v Speaker 6>different vintages and different percentages of of the of the

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<v Speaker 6>variety we use. And so today the day I'm beginning

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<v Speaker 6>the bland for the n for one particular vintage, I

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<v Speaker 6>have no idea which which is the potan a can use.

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<v Speaker 6>I tried to do the best and that's it. And

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<v Speaker 6>after Travis tell me you are right, you got wrong.

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<v Speaker 4>But but.

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<v Speaker 1>No, but.

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<v Speaker 2>I want to bring you back into the conversation. Travis,

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<v Speaker 2>you have a really interesting background. You're from Stellenbosch, which

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<v Speaker 2>is essentially the Napa Valley of South Africa. It's the

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<v Speaker 2>Cape Winelands. If anyone's ever been there, just a absolutely

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<v Speaker 2>gorgeous area which with fantastic wine. I'm curious how the

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<v Speaker 2>wine industry globally has changed over your lifetime, specifically with

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<v Speaker 2>regard to climate change, because now you find yourself in

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<v Speaker 2>northern California where fires are a huge concern. How are

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<v Speaker 2>you thinking about climate change when when it comes to

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<v Speaker 2>wine production.

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<v Speaker 3>I think all around the world, the challenges are actually

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<v Speaker 3>ensuring that your vineyards can can move through periods of

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<v Speaker 3>extreme climate change. You know, from drought in most of

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<v Speaker 3>the areas is becoming a bit of an issue. So

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<v Speaker 3>farming practices have to change. The varieties we plant to

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<v Speaker 3>have to change, and the way we manage vineyards. So

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<v Speaker 3>I think, for example in Stutembosh, it's getting very very warm,

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<v Speaker 3>So having having the right rootstock to the right plane

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<v Speaker 3>and managing the process of farming through that process is

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<v Speaker 3>the hardest challenge we have.

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<v Speaker 2>What about when it comes to travis to the wine

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<v Speaker 2>business and how nowadays you are trying to appeal to

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<v Speaker 2>a different demographic. There's some concern that younger people aren't

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<v Speaker 2>drinking as much as earlier as older generations. Talk a

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<v Speaker 2>little bit about that.

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<v Speaker 3>Yeah, I think, I mean, I think that's a concern

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<v Speaker 3>for the alcohol industry in general, you know, for wine,

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<v Speaker 3>wine has always been a product that has been enjoyed

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<v Speaker 3>in the company of food and with friends, and it's

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<v Speaker 3>a very much a cultural product in a lot of

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<v Speaker 3>the world. It's something that we grow up with that

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<v Speaker 3>we see our parents enjoying. And I think wine can

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<v Speaker 3>weather the storm and whether these challenges and changes if

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<v Speaker 3>people are willing to innovate, to try new things and

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<v Speaker 3>to appeal to different markets. I think the hardest part

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<v Speaker 3>for us is to find a way to appeal to

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<v Speaker 3>a younger generation, to enjoy our products in moderation and

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<v Speaker 3>enjoy them in the right environment, and to sell our

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<v Speaker 3>products as something that can be enjoyed in that way.

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<v Speaker 5>Hey, Michelle, we only have about thirty seconds left. But

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<v Speaker 5>what comes next for you?

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<v Speaker 6>No idea, But I want to say something about the

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<v Speaker 6>new consumption and the new people now now.

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<v Speaker 4>The new people.

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<v Speaker 6>Before before was was very traditional consumption, so Peopole was

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<v Speaker 6>liking Bordo, even Burgundia, Italian or Spanish. But okay, but

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<v Speaker 6>today today is the new generation is looking for a story,

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<v Speaker 6>and today's the story is very important. So they are

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<v Speaker 6>looking legs, they are looking in alcore like in wine

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<v Speaker 6>and wine. I think we have to do to find

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<v Speaker 6>some way to make more fun and to give more

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<v Speaker 6>fun and and we imagine with Travis, to make wine

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<v Speaker 6>for funny.

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<v Speaker 2>Funny is a good word to describe the wine industry.

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<v Speaker 2>We're gonna have to leave it there, guys, Pangaea Estates

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<v Speaker 2>partner Michelle Roland and Travis Braithway, the founder of Pangaea Estates.

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<v Speaker 1>This is Blimberg