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Coterie Holdings buys Hallgarten & Novum Wines
Coterie Holdings has bought Hallgarten & Novum Wines in a move that puts UK drinks industry veteran Michael Saunders at the helm of the business.
Saunders, who handed in his resignation at C&C Group back in August with a view to leaving the company at the end of the year, joining Bibendum in the early 80s before leaving 33 years later as CEO, only to rejoin in 2018 when C&C acquired the drinks supplier. In 2019, he was named as the chairman of the Wine & Spirit Trade Association (WSTA). He also served as chairman of industry charity The Benevolent, which was renamed as The Drinks Trust in 2020.
In September, Saunders revealed plans to join Coterie Holdings as CEO from 2 January 2024. As well as being the holding company for fine wine merchant Lay & Wheeler, Coterie Holdings is the the same for bonded storage facility Coterie Vaults and wine lending business Jera. It is chaired by former Berry Bros. & Rudd CFO Chris Robinson.
Andrew Bewes, managing director for Hallgarten & Novum Wines and Howard Falk, Hallgarten’s chief financial officer, will continue to lead the business.
Speaking to the drinks business about the acquisition, Saunders said: “We are delighted to welcome Hallgarten into the Coterie family. A best-in-class business, as recognised by this year’s trophies from the International Wine Challenge, The Drinks Business and the IWSC, Hallgarten’s addition to the group complements the other industry leading businesses already part of Coterie’s portfolio. With Hallgarten’s leading premium trade distribution, together with the long-standing relationships developed by the fine wine team at Lay & Wheeler, Coterie can now provide an unparalleled multi-channel offer to fine wine customers throughout the on and off trade.”
Saunders admitted: “I am grateful to the Pieroth family for their stewardship of Hallgarten since 1972 and I look forward to supporting the business into an exciting new era. Having known Andrew for many years, I am also greatly looking forward to this opportunity to work with him as a colleague, rather than a competitor.”
Andrew Bewes, Hallgarten’s managing director since 2009 told db that “Hallgarten is a natural fit in the portfolio of premium wine businesses which offer obvious benefits and natural synergies to ensure our continued growth and success. Coterie fully back what we are doing in the market, and with the support of the wider group, I am looking forward to really accelerating our growth plans.”
Bewes added: “On a personal note, I am very excited for the opportunity this brings and for a chance to work alongside Michael, whom I have known for over 30 years. There will be no change to the structure or management of Hallgarten, and it is very much business as usual as we continue to focus on our customers during this incredibly busy and important trading period.”
Hallgarten & Novum Wines was recently named Drinks Company of the Year at The Drinks Business Awards 2023.
Despite extremely stiff competition, the company was applauded for its growth, wine range, ethos, eco-credentials, staff and was declared a beacon as a profitable, ethical and environmentally-minded business.
In 2022, Hallgarten & Novum Wines initiated a major project – the ‘Hallgarten Eco Standard’ – to analyse the sustainability of our suppliers. Measuring against four categories with 41 criteria, each with weighted scoring, the standard is now incorporated into Hallgarten’s list, as well as being shared with the wider trade. Besides this recent development, Hallgarten has strengthened its portfolio, with a list of 1,200 wines from 192 producers in 24 countries. In the last 12 months, the company has added 220 new wines including La Rioja Alta, while boosting its social media following by 17% across all platforms. The company is on course to become Corporate Carbon Neutral by 2024, and looks set to generate sales and profit growth of 10% and 15% respectively in 2023.
Speaking on his appointment to the CEO role at Coterie Holdings back in September, Saunders had previously hinted that the business may be planning to expand: “I already see so many opportunities for the group”, he said.
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