Thierry’s buys out KWV stake
Wine importer Thierry’s has bought out a stake in the company held by South African producer.
KWV had owned the shareholding after selling its wholly-owned UK subsidiary to Thierry’s in 2006.
Thierry’s will contune as the UK distributor for KWV wines following the stake sale.
The deal means Thierry’s will be joint-owned by managing director Ged Welch, commercial director Matthew Dickinson, deputy buying director Lindsay Talas, buying director Dominique Vrigneau and finance director Hatim Dungarwalla.
Mananging director Welch said: “We are all very active wihtin the business and we share a commitment to ensure that Thierry’s continues to grow and thrive – and a passionate belief that Thierry’s is extremely well-placed to ride the recession.”
“This deal is of mutual benefit to Thierry’s and KWV as it allows us each to focus on our core strengths.”