Foster's division expands into European wine market
the Foster's group, improves wine portfolio in Europe with the
acquisition Kangaroo Ridge wine business.
Australian wine group Beringer Blass Wines Estates, a division of the Foster's group, improves wine portfolio in Europe with the acquisition Kangaroo Ridge wine business.
John Geber, who founded Kangaroo Ridge but little over two years ago in April 2000, will remain as a shareholder and continue to manage the business on behalf of the partnership.
"Our partnership with John Geber is a perfect fit for our European growth strategy," said John Philips, managing director - Europe, Middle East &Africa for Beringer Blass.
"Through a combination of wit, wisdom and hard work, John has created a stunning Aussie success story on the European continent with his clean, fresh and great-value Kangaroo Ridge wines. Together, we will continue its success in Europe."
In the 2002 financial year, its second full operating year, Kangaroo Ridge sold over a quarter of a million cases of wine, primarily to key retail chains in Germany, Belgium, France, The Netherlands and Switzerland.
"My dream for Kangaroo Ridge was to create the most Australian of all the Australian wines sold in Europe, and consumers have taken to the style enthusiastically," said John Geber. "But one bloke lugging a swag of samples around Europe can't make the most of the opportunity, so I'm very happy to have Beringer Blass's help to reach more customers."
Beringer Blass claims that the partnership will enhance its wine portfolio in Europe, by providing a high-volume, entry-point commercial wine with strong brand recognition and consumer acceptance.
Terms of the agreement were not disclosed.
