XANADU ACQUIRES NORMANS
Published: 23 July, 2008
Xanadu Wines has bought the key brands and the business wine of Norman Wines, the 153-year-old South Australian producer, along with its Clarendon winery and vineyard and packaged wine stock, for A$3.7 million. The companies had been in talks about a merger until Normans went into receivership. Private Liquor Brands, which is Xanadu and Normans UK distributor, will take approximately 10% of the new company and will have a seat on the new board. Xanadu will raise about A$4 million from a share placement. The other investors include the UK-based University Super Scheme.
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