Hong Kong's Altaya Wines acquires Rare & Fine Wines
Hong Kong's Altaya Wines acquires Rare & Fine Wines
Jan 21, 2013 6
(DBR) - Altaya Wines, a Hong Kong-based full service wholesale wine company that provides services to both private and trade customers, has acquired wine retailer Rare & Fine Wines for an undisclosed amount.
The acquisition is a part of Altaya's plans to expand its business into the Chinese mainland and open around 15-20 shops in Hong Kong and China within the next three years.
Under the deal, Rare & Fine Wines' three wine stores in Central, Sheung Wan and Tsim Sha Tsui has joined Altaya's etc wine shops - Burgundy etc, Bordeaux etc and Champagne etc. This has expanded Altaya's wine retail footprint to six locations, reported the drinks business.
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