Thierry's acquired by investment company
Wine importer Thierry's has been acquired by an investment company following a strategic review of its business activities.
The existing management team of Dominique Vrigneau and Lindsay Talas will continue to manage the wine side of the new company, called Watermill Wines Limited.
Hatim Dungarwalla will also have a role in the strategic management of the new firm.
"Watermill Wines will focus on Thierry's core strength of sourcing authentic, quality wines for customers," a spokesman said in a statement.
"Watermill Wines will enable the management team to concentrate on working closely with key customers to develop wines from top growers suited to today's consumer and delivering value for all parties," the statement added.
New chairman Richard Baizley said: "What attracted us to Thierry's business in the first place was its reputation for quality and service. Dominique and Lindsay in particular are held in extremely high esteem in the industry. In the current challenging economic climate it's vital to take a long term strategic view to maintain sustainability.
"This deal and new investment enables us to do just that. The business has some great customers, producers and suppliers that share our values of authenticity and quality and we look forward to continuing the partnerships with them."
In his career, Baizley, a qualified lawyer, has been non-executive director in a number of companies. Under his guidance he has rescued companies from the immediate threat of insolvency and has also been successful in obtaining required finance for growth companies.