McWilliam's Wines to be split in $40m-plus deal | Sunshine Coast Daily

McWilliam’s Wines to be split in $40m-plus deal
The 143-year-old wine company will have a new lease on life under two new owners, but it will come at a cost.
Business
by Jared Lynch
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McWilliam's Wines will avoid being liquidated after its administrators secured a deal, worth more than $40m, to split the 143-year-old company in two and ensure its $13 flagons of sherry keep flowing.
But the deal has come at a cost, with more than 60 staff, or two-thirds of McWilliam's total workforce, expected to be retrenched.
Under the proposal, Calabria Family Wines will acquire McWilliam's Hanwood winery and continue its brand, while Sydney investment group, Medich Family Office will take over the Mount Pleasant winery and assets. It is understood that up to one-third of McWilliam's existing employees will be offered jobs.

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