AUSTRALIA: Banskia acquires Hillstowe for $A4m
Five months after listing on the Australian Stock Exchange, Banksia Wines has bought the Adelaide winery Hillstowe for $A4 million ($2.08m). 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.
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