Wine dealers uncork merger

TWO leading fine wine merchants have joined forces. Goedhuis & Co has bought David Roberts Domaines, creating an operation with a £15m turnover.

Goedhuis paid a mixture of cash and shares for its rival, though the precise terms of the deal have not been disclosed.

Johnny Goedhuis, founder of the London wine dealer, is the largest single investor in the merged operation with more than a quarter of the equity. David Roberts, who launched the Suffolk-based business that carries his name in 2005, is the third-largest shareholder and will join the board.

Goedhuis said putting the two dealers together would give them greater power when negotiating with wine producers, particularly the prestigious Bordeaux growers. He added that British dealers were facing stiffer competition from their counterparts in the Far East.