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- Release Date: 26/04/13 11:35
- Summary: ASSET: DGL: DELEGAT'S ACQUIRES THE ASSETS OF BAROSSA VALLEY ESTATE
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DGL
26/04/2013 09:35
ASSET
REL: 0935 HRS Delegat's Group Limited
ASSET: DGL: DELEGAT'S ACQUIRES THE ASSETS OF BAROSSA VALLEY ESTATE
?Media Statement for immediate release: 24th April 2013
DELEGAT'S GROUP LIMITED ACQUIRES THE ASSETS OF AUSTRALIAN WINEMAKER BAROSSA
VALLEY ESTATE
Delegat's Group Limited has entered into an agreement for sale and purchase
to acquire the assets of Australian Winemaker Barossa Valley Estate Ltd
(Receivers and Managers Appointed) for $A24.7million payable in cash.
Settlement is expected to occur in June following satisfaction of incidental
conditions precedent.
The Barossa Valley Estate assets being acquired include a modern 5,000 tonne
winery and a 41 hectare vineyard on 80 hectares of land situated in the heart
of the Barossa Valley along with assigned grape grower contracts. The other
significant assets being acquired are inventory and brands including Barossa
Valley Estate and the highly regarded E&E brand.
The acquisition is a long term investment in growth that will be funded
through existing bank facilities.
Barossa Valley is an iconic South Australian wine region that is recognized
globally for producing world- class Shiraz. The Group's goal is to build on
Barossa Valley Estate's iconic position as a producer of Shiraz and to
establish it as a leading Super Premium Barossa Shiraz brand in global
markets. The Group will also target growth from producing and marketing
world-class Cabernet Sauvignon from the Barossa region. Delegat's Group
Managing Director Jim Delegat says "These wine styles are complementary to
the Group's current business and provide an opportunity for substantial
future sales growth globally".
Delegat's Group has established in-market sales offices in key global markets
which are exclusively focused on the development of the Group's brands and
customer base. This in-market infrastructure is a competitive advantage that
delivers high quality distribution and provides a platform for future sales
growth. Over the last decade the Group has successfully established Oyster
Bay as one of the world's great Super Premium wine brands and led New Zealand
wine category growth.
"The acquisition of the assets of Barossa Valley Estate is an ideal fit with
the Group's portfolio of high quality wine assets. We look forward to the
opportunity of building one of the world's great Super Premium Shiraz brands
from the iconic Barossa region" says Jim Delegat.
For further information contact:
Jim Delegat
Managing Director Delegat's Group Limited +64 9-359-7300
+64 21 886698
?
DELEGAT'S GROUP FACT SHEET/BACKGROUND INFORMATION
Delegat's Group was founded in 1947.
The Group listed on the NZX via an IPO in 2005 and is 66.11% owned by the
Delegat family.
The Group is New Zealand's leading producer of Super Premium branded wines.
The Group owns wineries and vineyards in the Marlborough and Hawkes Bay
regions
The Group owns the Super Premium category leading Oyster Bay brand which was
named one of the Top 50 World's Most Admired Wine Brands by Drinks
International Magazine.
The Group achieved Sales Revenue of $NZ 215.1 million and Operating NPAT of
$25.6 million in the year ended 30 June 2012.
94% of the Group's case sales volume is sold outside New Zealand with key
international markets including Australia, the United States, Canada, the
United Kingdom, Ireland and Asia.
End CA:00235551 For:DGL Type:ASSET Time:2013-04-26 09:35:29
