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Evans & Tate wines secures new distributor

Published:  23 July, 2008

AUSTRALIA: McWilliam Wines comes to the rescue of troubled Evans & Tate.

McWilliam Wines has been appointed the Australian distributor of Evans & Tate's branded wines and its Gnangara, X&Y and Oakridge wine labels.

McWilliam signed an interim agreement with Evans & Tate receivers, McGrathNicol, which were appointed earlier this week, after the company went into voluntary administration.

McWilliam's was part of an investor group, that included Pendulum Capital, which pulled out of a proposed restructure of Evans & Tate after conducting due diligence on the Western Australian winemaker.

Evans & Tate owes the ANZ bank about AUS$100million and made an agreement in July with ANZ, Pendulum and McWilliam's to restructure its balance sheet.

McWilliam's chief executive George Wahby said McWilliam's would also work with Evans & Tate and McGrathNicol to drive brand development and value through a comprehensive marketing campaign.

McGrathNicol receiver Peter Anderson said the winemaker's brands would benefit immensely from McWilliam's extensive distribution network.

"The new distribution arrangements add significant value to the Evans & Tate business by ensuring that its brands and products are best represented in the marketplace," Mr Anderson said.

The interim agreement will take effect on September 1.