UK merchant Goedhuis & Co and Waddesdon Wine, the UK agency set up by wine-producing branches of the Rothschild family, said they have agreed to merge, effective from 2 November. Financial details weren’t disclosed.
New company Goedhuis Waddesdon Limited aims to be ‘an unparalleled destination for wine collectors, retailers and hospitality businesses’, they said.
Ownership of the new entity will be split 50-50, a spokesperson said. Château Lafite Rothschild will retain a minority stake in the business, via the Waddesdon side.
Waddesdon Wine is a subsidiary of the Rothschild Foundation and represents the wider wine portfolio of Domaines Baron de Rothschild (DBR Lafite) and Edmond de Rothschild Heritage, owner of Château Clarke, in the UK.
It also represents cult Napa Valley producer Hundred Acre and collaborates closely with Château Mouton Rothschild and Australia’s Penfolds – among others. It markets wines to trade clients, from Mayfair restaurants to premium retailers.
Saskia de Rothschild, chairwoman of Lafite and also CEO of DBR Lafite, said, ‘We’ve long admired the integrity and buying knowledge of the Goedhuis & Co team. Bringing the two companies together is an excellent long-term move.’
Johnny Goedhuis, who founded Goedhuis & Co in 1981, will serve as chairman and ambassador of the new company.
He said, ‘What makes this deal so special is the combination of Waddesdon’s extensive reach in the on-trade and [its] unique relationships with leading Bordeaux châteaux, with Goedhuis’ private client expertise and our extensive contacts in Burgundy and Italy.
‘This creates a truly complementary business, ensuring all clients of Goedhuis Waddesdon benefit from an even broader range of wines of the very highest quality.’
Lord Rothschild said Goedhuis & Co’s ‘impressive private client business and the unrivalled experience of the Goedhuis & Co team will be a perfect partner to Waddesdon Wine’s deep understanding of Rothschild wines’.
Goedhuis won the Bordeaux and Burgundy specialist
Waddesdon’s list of Rothschild wines is extensive. DBR Lafite, for example, owns several Bordeaux estates but its portfolio also includes ‘Les Légendes’ range of everyday drinking Bordeaux wines, as well as Château d’Aussières in Languedoc and Bodegas Caro in Argentina.
Goedhuis Waddesdon’s headquarters will be in London Bridge and at the Rothschild estate, Waddesdon Manor, which has recently opened its newly renovated cellars.
The Buckinghamshire estate houses one of the largest collections of Château Lafite Rothschild and Château Mouton Rothschild wines outside of Bordeaux. It has also been used to film parts of Netflix’s The Crown.
The two companies will continue to operate under their separate names during an initial integration phase.
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Source : https://www.decanter.com/wine-news/goedhuis-waddesdon-wine-rothschild-merger-516115/