Signs Distribution Agreement with COFCO
Adelaide, Aug 25, 2014 AEST (ABN Newswire) - Australian Vintage Ltd (
ASX:AVG) (AUVGY:OTCMKTS) has signed a long term, strategic China-wide distribution agreement with COFCO Wine & Spirits Co Ltd. - part of China's largest food processing, manufacturer and trader, COFCO.
Effective immediately, the agreement will see AVL - through its core brand, McGuigan Wines - become the strategic partner for Australian wine throughout China within the newly established International Wine division of COFCO.
Commenting on the partnership, CEO of AVL, Neil McGuigan said;
"There is currently an opportunity for Australian wine in China, and it's one of the most exciting emerging markets for the global wine industry. Securing this partnership is a great honour for the McGuigan brand, not only for the opportunity to partner with a company of COFCO's stature and credibility but because they are a forward-thinking wine distribution company that understands the need to take the Chinese consumer on the wine journey.
"COFCO has one of the best distribution footprints in China, and the creation of its imported wine division, where the McGuigan brand will sit, will enable our full portfolio of award-winning, McGuigan wines to reach consumers across the entire Chinese market; something that gives us great confidence in the success of this cooperation.
"This is an exciting time for the McGuigan brand, and our commitment to the Chinese market is stronger than ever. We intend to work very closely with COFCO's teams to implement an allencompassing sales and marketing program that will help us reach the substantial targets we have set ourselves."
Mr Li Shiyi, General Manager, COFCO Wine & Spirits Co Ltd. said; "We are very pleased to partner with Australian Vintage to become the exclusive distributor of McGuigan Wines in China.
"There is no doubt that Australian wine will play a critical role in the future of wiine in China, and our partnership with Australian Vintage will ensure we are able to help shape that future through a strong portfolio of McGuigan Wines.
"Having won International Winemaker of the Year, and as the maker of Australia's number one selling branded red wine, McGuigan Wines has the prestige and award pedigree needed to help us achieve our extensive business goals. We are very excited to be offering a variety of high quality wines that over deliver at every price point to our customers through this cooperation."
About Australian Vintage Ltd
Australian Vintage Limited (ASX:AVG) (OTCMKTS:AUVGY) is a leading Australian wine company. Championing a fully-integrated wine business model, the breadth of our capabilities extends to vineyards, boutique and bulk wine production, packaging, marketing and distribution.
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