Thierry’s bought by investment company

Wine importer Thierry’s has been acquired by an investment company, but will continue to operate under a new name.

Thierry’s managing director Hatim Dungerwalla will have a role in the strategic management of the new firm. Buying directors Dominique Vrigneau and Lindsay Talas will manage the wine side of the new company, which will be called Watermills Wines Limited.

New chairman Richard Baizley said: “What attracted us to Thierry’s business in the first place was its reputation for quality and service. Dominique and Lindsay in particular are held in extremely high esteem in the industry. In the current challenging economic climate it’s vital to take a long term strategic view to maintain sustainability.”

Thierry’s has a portfolio of over 350 wines, working as the exclusive agent for over 60 producers around the world.

Baizley added: “This deal and new investment enables us to do just that. The business has some great customers, producers and suppliers that share our values of authenticity and quality and we look forward to continuing the partnerships with them.”

In a statement a spokesman said: “Watermill Wines will enable the management team to concentrate on working closely with key customers to develop wines from top growers suited to today’s consumer and delivering value for all parties.”