EWGA on the lookout for acquisitions
Carnforth-based wine importer, wholesaler and retailer EWGA is on the hunt for new acquisitions.
Speaking to Harpers at the London International Wine Fair yesterday, director Adrian Moeckell said he is looking for a new wholesale or trade part of the business dependent upon on how flexibly it can bolt on to its existing set-up.
"The business is currently seeing a 15% year-on-year sales increase on the back of the improvement of net margins and management of costs. We've cut out a lot of costs by importing as agents and selling direct and we now cover every aspect of the industry. Another complementary acquisition would lend itself well to the business," he said.
The family-owned company has been operating for 40 years and is currently in the process of expanding its bonded storage space. Moeckell added that Spain is presently good for the business and he thinks the whole Mediterranean rim from the Spanish coast, through to the south of France and Italy will be big in the next few years because its producers are focusing heavily on the export market.
However, Moeckell said he has chosen not to expand into its Winetime retail side of the business. (It has two retail bases in Greenlands Farm Village in Carnforth and at Scatchards in Liverpool).
"Even though the retail side is performing well as a showcase for our wines, if you gave me five shops for free I wouldn't accept them. Retail is currently very tough," he added.