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Wine companies bottle mutual agreement
Norton Rose, DLA Piper and Corrs Chambers Westgarth have acted on a ground-breaking agreement for the bottling and packaging of wine in Australia and the EU.
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Firms: Norton Rose (Accolade Wines), DLA Piper and Corrs Chambers Westgarth (Treasury Wine Estates)
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Deal: Cross-border contracting arrangement
Area: Corporate
Value: Undisclosed
Key Players: The Norton Rose team consisted of Greg Hipwell, Andrew Riordan and Allison McLeod at Norton Rose Australia, with Mike Knapper, Michael Grenfell, Dominic Stuttaford and Jane Berry at Norton Rose’s London office
Deal significance: Accolade Wines and Treasury Wine Estates (TWE) have this week announced a ground-breaking agreement for the bottling and packaging of wine in Australia and the EU. The parties entered into reciprocal bottling and packaging contracts that will see Accolade Wines bottle for TWE in the UK and TWE bottle for Accolade Wines in Australia. Norton Rose Australia and Norton Rose LLP acted for Accolade Wines in negotiating and documenting the arrangement. Accolade Wines’ chief executive Troy Christensen said the agreements would strengthen the Australian wine industry and will enable each company to secure economies of scale. Over the coming weeks, the new arrangements will commence, with both companies increasing their volumes over a six-month period to be fully transitioned by January 2013. Accolade Wines confirmed that the arrangements are part of a longer-term supply optimisation strategy aimed at better utilisation of its packaging and distribution assets globally.
