West Australian winery Xanadu has acquired the Barossa Valley's Next Generation Wines (NXG) in exchange for more than two million shares in the company, worth around AU$775,000 (€443,300).
This is the latest acquisition in a series that has seen Xanadu buy up Normans, Chais Clarendon, Old Vine and Lone Gum in the nine months since October 2001.
Xanadu’s managing director, Andrew Moore, said the company was focussing on international expansion, and this acquisition furthered that plan.
‘NXG provides us with significant additional export strengths, as well as furthering our winemaking skills,’ he said.
Next Generation is expected to add 52 British supermarket outlets to those currently stocking Xanadu’s brands, bringing the total to 66.
It also plans to up the total number of NXG cases on sale in the UK. While next year’s sales are expected to reach 70,000 cases, the total is due to climb to 350,000 cases within five years. Vin Five, Next Generation’s signature wine, will also be launched in the US and Canada.
The purchase is also expected to reinforce Xanadu’s skills base. Next Generation employees include Sam Atkins, formerly the European manager of BRL Hardy, who will be taking over the role of general manager of Xanadu, Adelaide Hills, and winemaker Natasha Mooney, whose 96 E&E Shiraz was rated at 94 points in Wine Spectator’s Top 100 Wines in 1999.
Written by Natasha Hughes5 July 2002
