AUSTRALIA: McGuigan Simeon acquires UK distributor
The company will use the acquisition to see that all its wines go through the same distributor, following the merger last year's merger of the branded producer Brian McGuigan Wines and bulk wine maker Simeon Wines.
The move is consistent with McGuigan Simeon Wines' strategy in most of its markets to take an equity stake in its distributors.
McGuigan Simeon Wines managing director Brian McGuigan said: "The real benefit is that we get a constant approach and have all our wines in one house."
The deal is for £200,000 ($A488,000) and 317,000 McGuigan shares. McGuigan has also acquired a 5% stake in Vinoceros UK and an option to secure another 5%.
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