MCGUIGAN SIMEON BUYS PREMIUM WINE PORTFOLIO

McGuigan Simeon announced yesterday they have purchased Australian wine producer Nepenthe Group to bring some premium brands to the portfolio.“The purchase of Nepenthe fills an important gap in our product range at a price point where we have been traditionally weak,” said McGuigan Simeon chairman David Clarke. McGuigan felt the burn in the past year due to “bitter competition” and dropping prices, with Australian wine volume as a whole increasing while value has fallen.