Thierry’s buys back shares from KWV

UK independent wine importer Thierry’s has carried out a buyback of the shares in its business from South African wine and brandy company KWV. The deal is said to be “mutually beneficial”, allowing both to concentrate on core strengths.

The financial details of the deal are not being divulged, though Thierry’s commercial director Matthew Dickinson described it as “a good deal for both sides”.

As a result of the agreement, Thierry’s shareholders, Ged Welch, Matthew Dickinson, Lindsay Talas, Dominique Vrigneau and Hatim Dungarwalla (pictured), each own equal parts of the company.

“The deal coincided with a change in KWV’s strategy and the new management and restructuring they embarked upon eighteen months ago,” continued Dickinson. “Also, we were looking to not have an external shareholder, as it’s not easy to have a shareholder based so far away.”

Prior to selling its German subsidiary, Eggers and Franke in 2007, KWV sold its UK subsidiary Edward Cavendish & Sons to Thierry’s in 2006 and since then, has developed its relationship with the Thierry’s team.

“We’re very upbeat about the UK market, now the biggest wine importer,” concluded Dickinson. “We’re a strong player and getting stronger, so we thought we should put our money where our mouth is. We’re experts in the UK market, and KWV are experts at making wine, so this deal will let us both concentrate on what we do best.”

Alexis Hercules, 11.02.09