UK-based wine agency HwCg has gone into administration, with family-owned rival PLB stepping in to acquire its assets.

The directors of HwCg confirmed today (19 August) that they have placed the company in administration, following "financial issues" arising from the firm's associated companies in Australia. The two firms have been "in discussion for some time" about how to integrate their portfolios and activities, HwCg said.

PLB has subsequently agreed to buy the assets of HwCg from the administrator for an undisclosed price, with the firm looking to "maintain continuity of supply for all customers and suppliers". PLB said it also plans to take on personnel from HwCg.

HwCg was founded in 1999 by the merger of Hedley Wright and Castle Growers. The firm, which has been based in Bishop's Stortford, worked with around 30 partner growers and winemakers around the world, including Evans & Tate in Australia and Kautz Family Vineyards in the US.