GE Capital today announced it had provided McWilliam's Wines Group Ltd, one of the largest wine companies in Australia, with a $55 million financing facility.
The five-year facility provides McWilliam's Wine Group scope to grow and to further consolidate its position as an end-to-end wine business spanning grape sourcing, winemaking and sales to major retailers, wholesalers and consumers across Australia and globally.
GE Capital A&NZ Managing Director, Corporate Finance, Paul McCann, said: "Wine making is a capital intensive business and by working closely with McWilliam's we've been able to unlock available capital from inventory and receivables.
"We're confident this financing package will support McWilliam's to strengthen its position in the Australian wine industry," Mr McCann said.
"With more than $200 million in current financing facilities for the sector, GE is a strong supporter of the Australian wine industry," Mr McCann said.
McWilliam's Wines CEO, Robert Blackwell, said: "This financing package will provide us with a flexible working capital solution which accommodates the fluctuating financing requirements of the wine industry and will support our plans to fund the future growth of the business."
Established in 1877, McWilliam's is one of Australia's most awarded wineries and was one of the first wine producers in the Riverina and Hunter Valley. Still largely family owned, the business now owns vineyards in NSW (Hunter Valley, Hill Tops, Riverina), SA (Coonawarra) and WA (Margaret River), and produces well recognized brand names including McWilliam's, Evans and Tate, Brand's Laira and Mount Pleasant. McWilliam's Wines has a domestic presence through key channels including Woolworth's, Coles and Australian Liquor Marketers, and exports globally to the US, Canada, Asia, the UK and Europe.
Emma_ Rugge-Price
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