Chinese backing for Ferngrove

Chinese backing for Ferngrove

A $10 million investment from a Chinese backer has paid big dividends for WA winemaker Ferngrove. From a near-standing start 12 months ago, China now accounts for about 60 per cent of Ferngrove’s sales and the company’s logo adorns 12 retail outlets built especially to sell its product in 12 provinces across the country. After taking 20 per cent of Ferngrove in March, diversified manufacturing and food company Pegasus – owned by Chinese businessman Xingfa Ma – now owns 72.5 per cent and has launched a $3.8 million buyback to mop up remaining shareholders’ stock, reports the West Australian.

Chinese backing for Ferngrove

A $10 million investment from a Chinese backer has paid big dividends for WA winemaker Ferngrove. From a near-standing start 12 months ago, China now accounts for about 60 per cent of Ferngrove’s sales and the company’s logo adorns 12 retail outlets built especially to sell its product in 12 provinces across the country. After taking 20 per cent of Ferngrove in March, diversified manufacturing and food company Pegasus – owned by Chinese businessman Xingfa Ma – now owns 72.5 per cent and has launched a $3.8 million buyback to mop up remaining shareholders’ stock, reports the West Australian.

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