US: Knightsbridge lists on Stock Exchanges
Wine company Knightsbridge Fine Wines has announced that it has been listed on both the Frankfurt and Berlin Stock Exchanges.
Chairman and CEO Joel Shapiro said: "We are very pleased to have listed our global company on two European Exchanges. We believe that our participation on these exchanges will lead to greater corporate visibility and enhanced shareholder value.
"The listing on the German Exchanges is part of our continuing strategy of entering the European market as we work to realize our vision of building a diversified international wine company. We believe the visibility provided by this listing in conjunction with recent appointment of a European Managing Director and our LOI to acquire a controlling interest in a number of wine producing and distribution businesses in Spain demonstrates our commitment to building and expanding our European Markets."
Knightsbridge Fine Wines was founded in the fall of 2002 in the hope of creating a diversified international wine company consisting of premium estate vineyards around the world.
"Knightsbridge believes that an oversupply of small- and mid-sized wineries seeking effective sales, marketing, and branding strength currently exists, which has created an opportunity to economically and strategically consolidate and build an efficient operation that can maximize economies of scale, increase utilization of production assets, and provide a more streamlined and effective sales, marketing, and distribution group," the company said in a statement.
Knightsbridge has to date acquired controlling interest in Dominion Wines International in Australia, and 100% of Bodegas Anguinan in the Andes Mountains of Argentina. The company is currently negotiating purchase and/or partnership agreements with several other wine companies.
It has entered into a letter of intent to acquire Stonegate Wines in Napa Valley, and Bodegas Torrique in Spain.
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