Hess Group AG announced today that it has closed its offer for Peter Lehmann Wines. The group has reached an 85% stake in the Australian winemaker, while company founder Peter Lehmann and his family will retain 10.7% of shares in the company.

The remaining 4.3% is held by smaller shareholders who have not sold their shares.
Talking to Dow Jones, Hess chairman Max Lienhard said: "Hess looks forward to a very long and successful association with Peter Lehmann Wines and to being able to contribute where appropriate by providing potential synergies and through the experience it has gained in its other wine operations."

The Swiss group had offered A$4.00 (US$ 2.88) a share.