Casella, owners of the Australian wine brand Yellow Tail, has acquired a controlling stake in Peter Lehmann Wines from Hess Group for US$49.5 million – a significantly lower figure than the $103m Hess shelled out for the brand in 2003.
Peter Lehmann’s widow Margaret revealed that she intends to sell her 10.8-per-cent share to Casella, which would grant it a 90-per-cent controlling share overall.
“The Board . . . is confident that John Casella and his team will be fine custodians of Peter Lehmann’s legacy,” said Christoph Ehrbar, chairman of Peter Lehmann Wines.
“Casella Family Brands is an Australian, family-owned wine success story with the vision and expertise to continue the development of this iconic South Australian wine business.”
© 2014 European Supermarket Magazine – your source for the latest retail news. Article written by Peter Donnelly.
