KWV ups shareholding in Germany
2006-08-17
KWV International, the global wine and spirits trading and marketing company of the KWV group, has increased its shareholding in its Bremen-based subsidiary, Eggers & Franke to 87,5% (up from 74,9%).
This is a strategic move to grow its position and unlock value in the important German market.
The remaining 12,5% shareholding is held by the Meier family, which is well known in the wine and liquor industry in Germany, and has been involved in the management and ownership of Eggers & Franke for more than three generations.
The increased shareholding comes just nine months after Eggers & Franke acquired Reidemeister & Ulrichs, another leading wine company, to consolidate its position in the German wine and spirits market.
This deal gave Eggers & Franke major penetration in the premium and luxury market segments, as well as in gastronomy, specialised trade and Cash & Carry.
Eggers & Franke had already purchased Reidemeister & Ulrich’s mail order business, Ludwig von Kapff, in March 2005.
Thus, within the space of just over a year, KWV has grown its share in Eggers & Franke, which company in turn has increased its share of the German market measurably, consolidating synergies and resources and providing KWV with a dominant position in Germany.
Dr Willem Barnard, CEO of KWV Limited, says: “This forms part of our company’s strategy to obtain scale and to expand our market share world wide, offering consumers quality wines at every price point.”
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