McGUIGAN SIMEON BUYS VINOCEROS AUSTRALIA

Published: 23 July, 2008

By Jack Hibberd

McGuigan Simeon Wines (MGW) has paid A$3 million for its UK distributor Vinoceros Australia, a subsidiary of Cornish wine company Vinoceros. MGW also bought a 5% stake in Vinoceros itself and has an option to buy a further 5% in future. The deal comprises 200,000 in cash (A$488,000) with the balance in shares (a total of 317,000). The managing director of MGW, Brian McGuigan said earlier this week that the deal was part of the clean-up' following the merger of branded wine producer Brian McGuigan Wine and bulk wine specialists Simeon Wines last year. It is thought that MGW is keen to see its wines on supermarket shelves; they have been previously been sold in the UK mainly through independents. Nick Richards, managing director of Vinoceros, told Harpers that he has signed a 10-year contract to service the company' bought by MGW. They didn't want to go down the Southcorp or Hardy's route of opening a stand-alone office, but they did want their own company in the UK,' he said. Vinoceros Australia is expected to change its name in the near future.

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