S AFRICA: KWV sells Cavendish to Thierry's
KWV International has sold its UK subsidiary Edward Cavendish & Sons to Thierry's Wine Services.
The deal will see the South African wine group take a minor "but no insignificant" stake in Thierry's, KWV International said today (15 September). Financial details were undisclosed.
KWV International MD Johan Bestbier also declined to comment on how significant the share was at this stage.
The deal marks the culmination of a short and sharp exchange of ideas that started when KWV international began investigating various options in the last few months.
Thierry's MD Peter Darbyshire said linking up with Edward Cavendish and KWV would add great depth to their existing South African portfolio of estate wines from Ken Forrester, Diemersfontein, Danie de Wet and Excelsior.
Bestbier said Thierry's had exceptional penetration and understanding of the UK market, backed by consumer and market research, which could lead to a new styles of wines in the future.
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