Casella looks set to acquire Peter Lehmann Wines

Casella looks set to acquire Peter Lehmann Wines

Casella Family Brands is set to acquire fellow Australian wine firm Peter Lehmann Wines (PLW). 

In an announcement earlier today, Casella, owner of the Yellow Tail brand, said it will offer AUD1.50 per share to secure 100% of Barossa Valley-based PLW's outstanding shares. The offer values the company at AUD57m (US$49.8m). 

PLW's majority shareholders, The Hess Group, and Margaret Lehmann, plan to accept the offer, according to Casella. Between them, The Hess Group and Margaret Lehmann have around 95% of the group's shares. 

PLW's directors will also recommend to its other shareholders they accept Casella's offer, according to the statement. 

Margaret Lehmann said: “I believe Peter Lehmann Wines will continue to flourish because the patient capital of private ownership is better suited to the cyclical nature of the wine industry.” 

John Casella, the group's MD, said the proposed deal “plays an integral part in (us) building a family of quality brands across a range of price segments”. 

Seperately, the Sydney Morning Herald today reported that Marcello Casella, one of the three brothers who helped established Casella, has been charged over his alleged involvement in a drugs syndicate. According to the newspaper, Marcello Casella stepped down as director of the firm in February.