The Wine Society & Cracka Wines merge
The Wine Society and Cracka Wines have merged businesses.
Cracka Wines, which is owned by the Online Liquor Group, have combined business with Australia’s first wine club, The Wine Society, in hopes the merger will place the businesses in a strong position to become the sector’s number one independent online trader.
Joint Chief Executive Officer of the new business, Llyod Heinrich (formerly of The Wine Society) said the merger will put the new business in pole position to lead the expected consolidation in the online liquor industry.
“With total revenue of $400.5 million in 2016–17, online sales represent just 4 per cent of the overall liquor market in Australia,” Heinrich said.
“Online is the fastest growing channel in Australian retail and with our combined credentials, we’ll be a significant player in this space with the expertise to grow quickly.”
Cracka Wines founder and other joint CEO of the new business, Dean Taylor, said Cracka Wines had planned to be the first company in Australia to complete a crowd-funded capital-raising project but instead saw the merit in joining forces with The Wine Society.
“The Wine Society is one of Australia’s most respected and trusted wine brands,” Taylor said.
“It has been instrumental in introducing tens of thousands of people to the world of wine. The merger will see us provide a broader based network of members to our suppliers and a far superior product range to our members.”
The new business combines both The Wine Society, Cracka Wines and other Online Liquor Group businesses – My Wine Guy and Winegrowers Direct.