A sale of Casella Family Brands, best known for its Yellow Tail range of wines, is reportedly being considered.
The family-owned business has hired UBS, according to The Australian Financial Review‘s Street Talk column, to gauge the interest of potential buyers for the wine company, headquartered at Yenda, outside of Griffith, NSW. Its Yellow Tail brand is exported to over 50 countries, and its success has inspired countless “critter wines”.
According to the article, being considered is a sale of the entire wine business, which also includes brands Peter Lehmann Wines and Morris of Rutherglen. The company’s net assets were worth $473.5 million at June 30, 2018, the same value of the year-to-June 30 revenues that year. This includes property, plant and equipment worth $140.9 million and inventory worth $227.6 million.
The family-owned and operated company was established in in 1969 by Sicilian immigrants Filippo and Maria Casella, who arrived in 1957 and bought a farm at Yenda in 1965.
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