Woolworths takes punt on wine
Woolworths is set to purchase one of the nation’s largest wine retailers, Cellarmasters, for $340 million in a deal that will see them enhance their range of private label wines.
The company clearly envisions a great future for wine sales as the deal comes just two years after their purchase of Langton’s Fine Wine Auctions. Indeed, despite troubles for winemakers, sales of wine have actually been tracking quite nicely on the domestic scene although imported wines are posing more of a threat thanks to the strong Australian Dollar.
“Cellarmasters’ proven expertise in direct wine marketing will add a new and complementary customer channel to the Woolworths Liquor Group, reflecting the multiple ways in which consumers now search for and purchase wine,” the company said in a statement…
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