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McGuigan sells Griffith winery and bottling operations

McGuigan Simeon Wines Limited (MGW) announced on 13 September 2005 that it has signed a contract for the sale of its Griffith-based winery and bottling operations to Dal Broi Family Wines Pty Limited, a private family wine company based in Griffith, Victoria, for an undisclosed sum.

Under the arrangements associated with the sale, the Purchaser will continue to process MGW’s Riverina grape intake as a contract processor for the time being. Additionally, the Purchaser will, for a period, continue to package wines for MGW at the site. MGW retains a lease over the warehouses at the site for a 12-month period to facilitate the continued distribution of its domestic and New Zealand sales from Griffith before a relocation of those activities to the Merbein Winery at Mildura.

Occupation and operation of the winery and bottling operations will pass to the Purchaser on 1 October 2005 with completion of the sale occurring on or before June 2006. MGW will also make available to the purchaser a vendor finance facility of up to 40% of the purchase price to be repaid by June 2008.

The sale will see the winery pass to the purchaser as a going concern including the winery, its bottling operations and the warehouses at the site. All employees at the site will be offered jobs by the purchaser on the same terms and conditions as their current employment.

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