- Friday 31 July 2009
The deal with Global Vintners, the terms of which were not disclosed, looks set to spell the end for the Ehrmanns name, which has traded since 1875.
A company spokesperson said work was under way to create a new identity ‘that reflects the aims and values of the new business’.
The sale, which has wine investments in Spain and the UK, frees Ehrmanns from the high levels of bank debt holding back the company’s development.
‘The Ehrmanns board has been looking for the best way to secure the future of the business, resolve the issues with the bank and put us into a position where we can take advantage of the opportunities that are now arising in the fast-changing supply side of the UK wine market,’ Ehrmanns chairman Peter Dauthieu said.
‘The acquisition by Global Vintners does this and offers the best deal to protect the interests of our employees, suppliers and customers.’ Ongoing creditors will be paid in full, Dauthieu added.
Meanwhile, Hull-based wine merchant House of Townend has acquired the assets of Yorkshire rival Playford Ros after the latter called in administrators.
A Playford Ros spokesperson said the company would continue to trade under its name, and would now give its customers access to the ‘bigger and better’ selection of wines sold by House of Townend.
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