Blog: The sorry tale of Evans & Tate
Olly Wehring | 29 August 2007
The sorry demise of Evans & Tate last week looked like the final nail in the Australian company's coffin.
While the troubled situation down under for wine makers is well-documented, the long-running saga of E&T's hunt for help has been the most physical sign of just how tough things are in the country.
Having made the move into voluntary receivership last week, quite what the future holds for E&T is difficult to predict. The receivers themselves are quite confident they can find a buyer, with a spokesperson for McGrath Nichol telling just-drinks that the company will "internationally advertise both in Australia and off-shore, including the west coast of America".
One bright ray of sunshine for E&T came at the end of last week, when McWilliam's Wines confirmed that they will be handling distribution of E&T's branded wines in Australia. Also, with Pendulum Capital, who was part of a consortium whose rescue package for E&T failed last week, saying it is still interested in buying the firm, the future for E&T may still not be as bleak for the company as initially feared.
Quite how the future looks for some of the Australian wine grape growers, who are owed hundreds of thousands of dollars by E&T may be more of a worry, however...
We certainly hope not.
Whisk(e)y companies spend a lot of money and effort ageing their products for that premium taste....
PepsiCo created a stir last week with the news it is testing a product called Caleb's Kola, with some in the media claiming it was the beginning of a new “craft soda” category....
SABMiller's bid to widen the appeal of beer is very much in evidence at its latest 'House of Peroni' - with beer cocktails and a bigger bottle for the Italian lager brand on offer. ...
Here's a round-up of the big stories on just-drinks last week, featuring PepsiCo, SABMiller, the Scotch whisky category and the US wine market....
- Diageo's future brighter than present suggests
- Diageo's Q1 Results by Region
- SABMiller's troubles fuel M&A rumours
- Analysis - Remy's Cognac "dead-cat bounce"
- Focus - Remy Cointreau's H1 Performance by Brand
- Moët Hennessy unveils first Travel Retail outlet
- Diageo puts Beckham centre stage in Haig Club ad
- Diageo Q1 sales dip "in line with expectations"
- Moet Hennessy sales falter in YTD
- United Spirits sees Q1 net loss