EVANS & TATE STRIKES DEAL WITH MCWILLIAMS WINERY
Troubled Australian winery Evans & Tate has signed over its distribution rights to New South Wales-based McWilliams Wines in Australia, beginning Sept. 1. Evans & Tate went into voluntary receivership last week after ANZ bank foreclosed on a A$100 million loan to the company. The receiver, McGrathNicol, in turn entered an interim agreement with McWilliams.
In addition to distribution, McWilliams’ will work with E&T and receiver McGrathNicol to drive value and brand development through a large marketing campaign. McGrathNicol also pointed out E&T brand would benefit from McWilliams’ established on- and off-premise channels.
According to local reports, E&T reps will meet creditors today to discuss what will happen now that McGrathNicol has taken control of the company’s assets and operations while it looks for a buyer.
In addition to distribution, McWilliams’ will work with E&T and receiver McGrathNicol to drive value and brand development through a large marketing campaign. McGrathNicol also pointed out E&T brand would benefit from McWilliams’ established on- and off-premise channels.
According to local reports, E&T reps will meet creditors today to discuss what will happen now that McGrathNicol has taken control of the company’s assets and operations while it looks for a buyer.
posted at 1:16 PM
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