By James Atkinson
Coles subsidiary Exclusive Liquor Brands (ELB) has confirmed its acquisition of the Punters Corner wine brand from Coonawarra.
The deal only came to light in recent weeks but ELB general manager Grant Ramage told TheShout that the company actually acquired the brand and stock last year.
"We will relaunch the brand later this year, and take it to a bigger audience through our network of stores, offering exemplary quality and value," Ramage said.
"We plan to maintain the existing grape sourcing and winemaking arrangements."
The Punters Corner label has won many accolades, including the Jimmy Watson Trophy for its 1999 Spartacus Reserve Shiraz.
"It’s a brand with a great reputation for quality wine from Coonawarra," Ramage said.
Punters Corner founder David Muir told TheShout that Coles had been a pleasure to deal with on the transaction. With no family members interested in taking on the business, Muir said he was very pleased with the outcome.
Ramage sought to clarify earlier reports suggesting Coles was moving into the production side of the wine business.
"That is expressly not the case – we own no vineyards, wineries, or bottling facilities. We are not vertically integrating," he said.
Coles established ELB last year as a key pillar of Liquor GM Andrew Charlton's new strategy for the business.