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China’s hefty import duties have inflicted deep scars on the local wine industry and triggered an oversupply that could fill 859 Olympic pools.
China’s hefty import duties have inflicted deep scars on the local wine industry and triggered an oversupply that could fill 859 Olympic pools.
In the heart of Australia’s wine-growing regions, China’s hefty trade strike has been a fatal blow for many vineyard owners and winegrape growers.
The destruction of the $1.3 billion export market to China, and a pandemic hit to hospitality venues is set to drive more dealmaking.
McWilliam’s Wines closes in on sale second time around, The Australian reports February 17th, 2021 Administrators of collapsed wine group McWilliam’s have confirmed they’re in talks with a party interested in taking over the 143-year-old company, according to a report by The Australian. In a letter to creditors, seen by The Australian, administrators Gayle Dickerson, Tim Mableson and Ryan Eagle of KPMG said they have entered exclusive talks with an interested party – two months after McWilliam’s previous favoured suitor failed to come up with the $46m needed to seal the deal. “W...