The merged company will have a market capitalization of around A$150m and annual turnover in excess of A$90m. Total annual volumes will be in the region of 2.4m cases. The merged company will be called Evans & Tate Ltd.
AUSTRALIA: Evans & Tate and Cranswick announce merger
The consolidation in the Australian wine industry has continued with the announcement of the merger of Evans & Tate Ltd and Cranswick Premium Wines Ltd to form Australia's eighth largest wine concern. The two companies are considered a good fit, with Evans & Tate's domestic strengths being complemented by Cranswick's international presence, notably in the UK, where its Barramundi brand is a major force, and Europe.
June 14, 2002