AUS: McGuigan Simeon confirms Nepenthe talks
McGuigan Simeon has confirmed it is in talks about what it describes as "a possible transaction".
The Australian wine company confirmed to the Australian Stock Exchange today (20 February) that it is in the early stages of discussions with Nepenthe Group.
"No formal proposal has been agreed and discussions remain incomplete, conditional and confidential," McGuigan Simeon said.
Based in the Adelaide Hills, Nepenthe was created in 1994 by the Tweddell family. The company exports to several markets, including the UK and US.
In August last year, McGuigan reported a net loss of A$11.5m (US$9.1m) for the year to 30 June, after writing off almost A$30m in stocks amid a red wine glut.
- Brown-Forman's march on premium whisk(e)y -Comment
- Will US consolidation leave craft alcohol exposed?
- Are consumers getting tired of consuming?
- Should Boston Beer Co put up the For Sale sign?
- Where does AB InBev see the future of beer?
- Brown-Forman to buy BenRiach Distillery Co
- AB InBev snaps up Italy's Birra del Borgo
- Smirnoff Ice Electric flavours - NPD
- Bacardi rolls out new global Martini ad - video
- US craft beer to hit saturation soon - Koch
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Consumer and Market Insights: Wine Market in China
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends
- What Next for Beer and Brewers Following the MegaBrew Deal?
- Emerging Drinks Industry Trends