WHOLESALER Inverarity Morton has snapped up Milnathort-based Forth Wines in a seven-figure deal.
The acquisition, which comes two years after Inverarity Morton was formed by the merger of William Morton and Inverarity Vaults, will give the enlarged firm around 4000 licensed trade customers and a portfolio of up to 2000 wines.
Speaking to SLTN, Inverarity Morton MD Stephen Russell said the two companies will continue to operate independently until the new year.
There is a “great chance” the Forth Wines name will then disappear, he said, as “the reality is we need to trade as one entity”.
The enlarged company will service trade customers from two depots – Glasgow and Milnathort – and have a total workforce of 200, including 40 sales reps, 35 of which will cover Scotland. Russell said there will be “no net job losses”.
Two of the four directors at Forth Wines will move to the enlarged company; Ian Cumming will join as commercial director with Alan Cramond assuming the role of finance director.
• See SLTN October 31, 2013 for the full story.