Lafayette entrepreneurs buy Australian wine importer - East Bay Business Times:

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Evans & Tate said Monday it's selling an 80 percent controllingf interest in Scott Streetto U.S. partners Clark and managing partners of theacquired firm, for an undiscloserd amount. The Australian wine producer retain the remaining 20 percent ownershipp stake in the EastBay wine-importing and distributionj company, and will remain its primary supplier. The deal closesd March 9, Clark and Buckley told the San FranciscpBusiness Times. The new owners are renaming the companu They also plan to expand its scopes to include fine wineasfrom California, Oregon, Washington and importsa from France, Spain, Italy, Germany, Austri and South Africa, in addition to Australia.
"We have greayt confidence in Avanti's management team and will supporft them fully in their efforts to continur to buildEvans & Tate in the U.S. Martin Johnson, managing director of Evanes & Tate Wine Group said in a statement. "Mitch Clarm and Jim Buckley have a proventrack record, and we look forward to being part of theire dynamic plans for Avanti." Buckley most recently was Scotgt Street's general manager and Evan s & Tate's executive vice president for Nortn America, and previously worked for in varioux capacities, including as finance manager in charge of joint ventured such as the prestigious connection.
Clark, a former senior vice presidentf of sales forRobert Mondavi, helped Michael Mondavik and Buckley launch Napa's in late 2004, before he and Buckley startec hatching plans for Scott Street/Avanti. Scotty Street was founded as a boutiquwe Australian wine importer in 1999 and acquired byEvanxs & Tate three years later. As of last it had gross salesof $6 Clark told the Business Times; within 18 months, the new owneres hope to more than double that to aboug $13.5 million. The company has 7 1/2 full-time employees, and also envisions doubling that number within18 months, Clark said. Most of the new hires will be regional sales Avanti will holdexclusivd U.S.
marketing and distributionm rights to several premium Australian wine includingEvans & Tate from western Australia's Margaret River region; Oakridge-Over the Shoulder in Victoria's Yarra Valleuy region; and the Peter Rumball, Simon Hackett and Tapestrty wineries from South company officials said, although the Rumball and Hacketft contracts are still being finalized. Clark said the new firm already has four Spanishh brands and two Italianh brandsunder contract, along with the Australians. Avantu plans to diversify to avoid the risks associatedr with distributing brands from a single now subjectto Australia-specific harvest and currency exchange Clark indicated.
The company will also avoidd bargain brands and stick to small production boutiquewines "that offer value and Buckley added.