AUS: Signature Brands to leave wine behind
Signature Brands is pulling out of the wine industry. The owner of the Pulp Juice and GoManGo juice bar businesses announced late last week that it will exit its wine interests and expects to break even from the sale of its wine business.
"At this stage, the estimated aggregate financial impact of these transactions will result in a neutral profit outcome to Signature," the company said.
"A fuller exposition of these confidential transactions, which will not require shareholder approval, will be given when they are completed."
Among its wine interests, Signature has Olivia Newton-John's Koala Blue Label.
The company has been making losses since it listed early last year, due to heavy investments made in building its new businesses.
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