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News
Two UK independents merge
Goedhuis & Co has bought David Roberts Domaines, creating a UK independent merchant with an estimated turnover of £15 million.
The merger provides the business with greater power to deal with competition from the Far East, and allows it to negotiate harder with producers, according to Johnny Goedhuis.
Even though the purchase has been secured with a mixture of cash and shares, according to The Sunday Times, the finer detail of the merge has yet to be announced.
However, it has been revealed that Johnny Goedhuis has acquired more than a quarter of the equity of the new firm.
Goedhuis said that the acquisition puts his firm in a more favourable position when it comes to negotiating with producers, especially those in Bordeaux, while the reinforced position of the company is an advantage against stiffer competition from the Far East too.
He added: "This move consolidates our position as one of the leading fine wine merchants in the country by size, but just as importantly, it brings David’s expertise in to the business to strengthen further our relationships with the growers. Our aim is to be the merchant of choice for producers and clients alike.”
David Roberts Domaines was created in 2005 by David Roberts MW after he left his role as senior buyer at Lay & Wheeler. Roberts now becomes a director and as the third-largest shareholder of the company, will join the board.
Speaking of the merge, Roberts said: "By joining with Goedhuis we bring new dimensions to the business such as our wine investing service and the wine school, while my clients will benefit from their investment in infrastructure to ensure every efficiency in finance and logistics leaving me to concentrate on doing what I do best, which is sourcing fine wines from great producers and providing a very personal service to my clients.”
The newly-formed company will have offices in London, Suffolk (where DRD was based) and Hong Kong, as well as a storage facility in Northamptonshire.
Jane Parkinson, 22.03.2010