AUS: E&T signs supply deal with Foster’s
Evans & Tate has entered into a Heads of Agreement with Foster's Wine Estates Ltd to provide contract processing services.
The agreement provides for Evans & Tate to supply and process a minimum of 4,500 tonnes of south-eastern Australian grapes to Foster's for an initial term of five years. These new contracted volumes are in addition to current supply agreements with Foster's. From next year's vintage, the company will also process a minimum of 13,500 tonnes of grapes for Foster's.
In a statement to the Australian Stock Exchange today (30 September), Evans & Tate's chairman, John Hopkins, said: "This Heads of Agreement with Foster's represents a major expansion of our relationship with the World's leading premium wine company.
"This expands our contract processing operations significantly and allows us to fully utilise the Grffith (New South Wales) winery facilities to maximise revenue."
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