AUSTRALIA: Banskia acquires Hillstowe for $A4m
The only physical asset was Hillstowe's inventory valued at $A1 million ($0.77m), with the balance paying for the brand and goodwill. Banksia Wines, also Adelaide based, already has the Tatachilla and St Hallett labels.
Banskia managing director Keith Smith said the acquisition was earnings positive from day one. Behind the decision was Hillstowe's export success with a third of its table wine production, 12,000 cases last year, going to the UK and US.
Banksia listed at 85c per share, and after the acquisition rose 1c to 75c,one of the very few Australian listed wineries trading at a discount.
- Pernod Ricard's Q3 2017 trading update - Preview
- Why Scotch must drop the 'malts good, blends bad'
- How soft drinks brands manage to offend consumers
- Heineken Q1 2017 by region - results data
- Remy Cointreau Fiscal-2017 sales - results data
- Diageo to cut 105 jobs in Scotland, 50 in Italy
- Scotch sales set to soar, despite recent struggles
- William Grant snaps up Tuthilltown Spirits in US
- TWE's Beringer Main & Vine Dry Rosé - NPD
- Edrington shifts innovation to US in shake-up
- Global Champagne and sparkling wine insights - market forecasts, product innovation and consumer trends
- Global Scotch insights - market forecasts, product innovation and consumer trends
- Battle of the Generations - The fight for iGen, Millennial, Gen X and Baby Boomer consumers
- Myanmar - ISA Country Report
- Global Wine Market 2016-2020