Blog: Our final thought for 2006 - Yarraman and Evans & Tate
Olly Wehring | 22 December 2006
There is no doubting the ambition at US-listed Australian wine group Yarraman Winery.
CEO Wayne Rockall, who this week has overseen a takeover bid for Evans & Tate, sees the struggling West Australian wine group as the first of “several” acquisitions his company could make throughout the New World.
Rockall believes Yarraman’s US listing – and access to the country’s equity markets – can provide “salvation” to wine producers saddled with heavy debts. Over the last 18 months, Evans & Tate has looked in need of some help to say the least as the business has been hit by Australia’s wine glut.
However, under the stewardship of current chief executive Martin Johnson, a number of tough decisions have been made at Evans & Tate. Wineries have been sold, jobs axed, inventories reduced and there is now a focus on the company’s premium labels.
Evans & Tate has got a good UK distribution partner in HwCg, a US network with some potential, as well as its own sales force in Australia – all apparently strong foundations on which a new owner could build.
And Yarraman’s management has been canny to bid for Evans & Tate when the company’s value is so low. Evans & Tate shares have reached A$0.14 in recent weeks; 18 months ago, they stood at around A$1.10.
The question for the ambitious Rockall and Yarraman is: where next in the New World could they go to find such a beleaguered company - but with the potential to bounce back from its difficulties?
And so, we leave you with that thought. We’re off to over-indulge and detox for a week, and will be back, fighting fit and raring to go, on Tuesday 2 January. Both my news editor, Dean Best, and myself wish you all a well-earned break next week - if, indeed, you are not at work next week - and a prosperous and successful 2007.
You can count on just-drinks to help you prosper and succeed next year.
Bacardi's 42 Below vodka brand has found a novel way to use the lemons left over from cocktail-making: Turn them into liquid soap....
Philadelphia’s soda tax came into force on Sunday, and is reportedly causing a stir in the city's check-out aisles....
Earlier this month, I was most-kindly invited by Accolade Wines to visit the Royal Albert Hall in London. The reason? They wanted to see a tennis great in action, and then give them a guided tour thro...
Do you like whisk(e)y? And, I mean, really like whisk(e)y? Are you at a loose end in the first half of 2017? If so, then I've found just the job for you....
- Heineken goes from strength to strength - Analysis
- Treasury Wine Estates CEO - Interview Pt II
- Key trends for the alcohol category in 2017
- Treasury Wine Estates CEO - Interview Pt I
- Heineken FY 2016 by region - results data
- Rum braced for falling volumes in years ahead
- Non-alcoholic Heineken set to hit Europe - CEO
- Beam Suntory revamps Bowmore whisky packaging
- Molson Coors hit by US$500m write-down in Canada
- Molson Coors targets cost-savings - FY16 results
- Global Scotch insights - market forecasts, product innovation and consumer trends
- Global vodka insights - market forecasts, product innovation and consumer trends
- Global Cognac insights - market forecasts, product innovation and consumer trends
- Global gin insights - market forecasts, product innovation and consumer trends
- Global rum insights - market forecasts, product innovation and consumer trends