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Established by two Norwegians, Theodor Wiese & Dankert Krohn, the purpose was to export Port to Scandinavia and Germany. However 1880 saw Wiese sell his share to Krohn, 15 years after co-founding the company, and take the position of acting as the company's commercial agent in Norway.

When Krohn died in 1906, his widow and daughters continued with the business, before it was sold in 1921, and again in 1937 when it became entirely Portuguese owned. It stayed this way until the early part of the 21st century when the third generation of the Falcao Carneiro family sold the company to The Fladgate Partnership, owners of Taylor's and Fonseca.