McWilliamâs 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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Subscriber only 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.
McWilliamâs 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
Premium Content
Subscriber only 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.
McWilliamâs 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
Premium Content
Subscriber only 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.
UBS asks wine types to taste test Villa Maria Estates
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Fancy affordable Kiwi plonk? Tee up a drink at UBS.
The Swiss bank is confidentially courting trade and private equity buyers for New Zealand’s most awarded winery, Villa Maria Estate.
UBS is in the market for Villa Maria Estates.
It is understood UBS is formally mandated to find Villa Maria a new investor or new owner and has a handful of interested parties counting barrels and tasting wine as part of a two part auction.
Sources said the auction was into the second and binding bid phase, and has included participation from some well known Australian private equity players to date.