Yellow Tail maker Casella for sale?

 

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According to a subscriber-only article,  the Australian Financial Review, Yellow Tail maker Casella Family Brands is looking for buyers and has hired investment bank UBS to test appetite of potential buyers, including Australian and offshore private equity groups already circling the local wine sector.

 

The deal could be worth AUS$500M+.

 

Casella is Australia’s largest family-owned wine company with 700 employees, 500 growers and exports 12.5 million cases of Yellow Tail a year to more than 50 countries.

 

According to the Financial Review article, the sale offer  is said to include Casella’s entire wine business. The company was founded by the Casella family in 1969 and is run by John Casella.