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Evans & Tate receivers appointed

Peter Anderson, Shaun Fraser and Andrew Birch of McGrathNicol were appointed Receivers and Managers of Evans & Tate on 21 August 2007.

Evans & Tate is recognised as one of Australia's leading winemakers. It has a long heritage of producing world-class wines from Margaret River in Western Australia and the Yarra Valley in Victoria, for the enjoyment of wine lovers throughout the world. Major brands include Margaret River Classic, Evans & Tate Margaret River, Gnangara, The Reserve, Oakridge, Over The Shoulder and X&Y.

The Receivers are pleased to announce that, after a comprehensive public tender process over the last 7 weeks, the Pendulum Capital / McWilliam’s Wines consortium has been selected as the preferred purchaser for ETW’s Margaret River business (including the Margaret River Classic, Evans & Tate Margaret River, Gnangara, The Reserve and X&Y brands). Under the terms of the sale, the business will be acquired by McWilliam’s Wines Pty Ltd’s Australian based operations.

“We were very pleased with the level of interest shown in the Margaret River business and the subsequent bids received. We are delighted that the Margaret River business will continue as a going concern as part of a strong, financially credible industry leader,” Anderson said.

The sale is subject to finalisation of appropriate documentation which, when achieved, should enable settlement to occur on or around 30 November 2007. The terms of the sale including price remain confidential.

The Receivers sincerely thank ETW’s staff, customers and suppliers for their ongoing support.



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