AUSTRALIA: Evans & Tate and Cranswick tipped to announce merger
The two mid-sized wine groups announced last week that they were in preliminary talks regarding a A$110m ($62.32m) merger and an announcement was expected some time in the next four weeks.
However, Evans & Tate has said that it will be making a major announcement in Sydney tomorrow. A merged entity would be expected to have sales volumes in the region of 2.5m cases of branded wine.
Australian wine company Evans & Tate has suffered acutely as grape oversupply and weak exports have combined to hit the Australian wine industry hard. David Robertson reports on the company's woes and...
Evans & Tate has put its Oakridge winery up for sale as part of its plan to focus on its premium wine business....
Evans & Tate risks having to immediately repay A$20m (US$14.7m) to convertible noteholders....
Ailing Australian wine producer Evans & Tate has axed 20 jobs as part of a round of cost cuts it hopes will revive the business....
Evans & Tate has completed the sale of its bulk wine inventory but said it would work with consultants 333 Performance Management for a further three months in a bid to turn around the business....
Evans & Tate has appointed a new chief executive officer....
Evans & Tate may be investigated by the Australian authorities, according to local press reports....
The troubles of Australian winemaker Evans & Tate are increasing, with news today (16 August) that the company now expects to make write-downs of not less than A$16.5m for the 2004/05 financial year....
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