NZ: Independent Liquor head makes staff millionaires – report
The founder of Independent Liquor, who died late last year, has left part of his inheritance to some of his employees, according to reports.
Michael Erceg, who was killed when his helicopter crashed in November, has made five of his staff instant millionaires, the Sunday Star-Times said yesterday (11 June). He signed the will five months prior to the accident.
The paper said that Erceg, 49, left NZ$30m (US$18.9m) to 15 employees, former employees and relatives, from his personal fortune of more than NZ$600m.
Erceg left NZ$1m each to five of his top executives, while another 10 employees received NZ$500,000 each.
Independent Liquor is being prepared to be sold. Although the paper claims that Lion Nathan is a front runner to acquire the distiller, just-drinks understands that the beer and wine company is not looking to make a bid. Although Lion Nathan is looking to enter the Australian RTD market, it is thought that the company is looking to start from a smaller base, allowing it to build the brand better.
Australian beer and wine group Lion Nathan is expected to announce a move into ready-to-drink spirits next week. David Robertson assesses the options available to Lion as it seeks to emulate the succe...
A private-equity consortium of Pacific Equity Partners and Nikko Principal Investments has reportedly tabled the highest bid for New Zealand RTD group Independent Liquor....
The deadline for bids for New Zealand's Independent Liquor passed today (6 December) but front-runner Lion Nathan remained tight-lipped on whether it had tabled an offer....
Lion Nathan reportedly faces its main opposition for Independent Liquor from private equity groups ahead of tomorrow's (6 December) deadline for the New Zealand-based spirits business....
New Zealand's Beer, Wine and Spirits Council looks set to close down at the end of the month after Lion Nathan decided pull out of it....
Cooper's Brewery has celebrated a year in which it saw off Lion Nathan - but at a cost to its profits....
Diageo has been given the all-clear to make a bid for New Zealand's Independent Liquor....
Trans-Tasman beer and wine group Lion Nathan has reported a 12% rise in full-year net profit to A$226.8m (US$173.3m) - but warned rising costs would hit profits for the current fiscal year....
- Spirits - Where does 'Craft' End and 'Mass' Begin?
- Brewers go Crazy over Flavoured Malt “Cocktails”
- Mike’s Hard Lemonade Could Be a Hard Sell
- What do A-B InBev results mean for SABMiller deal?
- just The Preview - Anheuser-Busch InBev's Q4 & FY
- Diageo "smart bottle" targets consumers at home
- Suntory whiskey seeks to "eclipse" Diageo, Pernod
- Tesco reinstates Dan Jago following suspension
- Diageo adds Dubai to Johnnie Walker skyline series
- Asahi Beverages CEO to step down - report
- 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
- Global RTD/RTS insights - market forecasts, product innovation and consumer trends research
- Beam Suntory Inc. - Strategy and SWOT Report