AUSTRALIA: Cockatoo looks to buy Int'l Vintners
Cockatoo Ridge Wines is looking to raise funds for an acquisition. The winemaker today placed 7.7m shares at A$0.65 each to a range of overseas and local institutional clients of Blackwood Capital, to raise A$5m. Cockatoo will use the funds to acquire the wine trademarks and associated inventory of International Vintners Pty Ltd.
The acquisition, which will be earnings accretive immediately, is expected to cost A$4.6m.
Speaking to Australian Business News, managing director Ivan Limb said: "These brands are a perfect fit for Cockatoo Ridge.
"It fills an important gap in our product portfolio, giving us a presence in the premium product market," Limb added.
- What do A-B InBev results mean for SABMiller deal?
- Interview - Beam Suntory's EMEA president
- Interview - William Grant & Sons
- Anheuser-Busch InBev's FY Performance by Region
- just The Preview - Brown-Forman Q3 & YTD
- Tesco reinstates Dan Jago following suspension
- Diageo completes Don Julio, Bushmills swap deal
- Pernod Ricard sends Martell Mumm PJ head to Asia
- Pinnacle Vodka, Skinnygirl roll out on ice
- Pernod Ricard's Havana Club Union
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends research
- Wine, 2014 and the future
- Spirits and RTDs, 2014 and the future
- Beam Suntory Inc. - Strategy and SWOT Report
- Global RTD/RTS insights - market forecasts, product innovation and consumer trends research