China importer Summergate and its subsidiary Pudao Wines have been bought by Australia retail giant Woolworths Liquor Group for an undisclosed sum.
Summergate, one of China’s leading wine importers, was known to have earlier been in talks with investors, as reported by Decanter.com in February. As part of the new deal, Summergate chief Ian Ford is expected to stay at CEO, whilst he and co-founder Brendan O’Toole will wait as board members of the companionship. ‘Brendan and I are both very proud that a companionship of the calibre of Woolworths Liquor Group has chosen to buy our business,’ Ford said in a statement. ‘I personally look forward to the years ahead continuing to lead and guide our fantastic group of people, striving to be the preferred partner to all stakeholders in the industry.’Summergate, which counts the likes of Concha y Toro, Villa Maria and Chateau Musar amongst its brands, had
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