Insolvency practitioners have taken control of Margaret River wine producer Tate Wine, the latest local alcoholic beverage maker to buckle under industry headwinds.
A group of former Evans & Tate grape growers have established a co-operative to negotiate the sale of their fruit to other industry players, after receivers for the Margaret River winery revised its 2008 vintage contracts.
FORMER Evans & Tate Ltd executive chairman Franklin Tate has resigned as a director and brand and product ambassador of the company effective on August 13 2007.
Former Evans & Tate Ltd executive chairman Franklin Tate has resigned as a director of the company, as well as being its Brand and Product ambassador, the company announced today.
Yarraman Winery Inc is considering a fresh takeover proposal for Evans & Tate, three months after the little-known US-based company's opportunistic $148 million bid was rejected by the Margaret River winery.
Evans & Tate have rejected a $131 million takeover proposal from Yarraman Winery Inc following a week of close discussions with senior management from the US-listed wine group.
Listed winemaker Evans & Tate expects to report a loss of between $4.8 million and $7.5 million in the current financial year after writing down the value of its wine inventory and one of its subsidiaries.
