McWilliams Wines seeks to move up market after a capital raising

McWilliams Wines to raise $15m to fix weak balance sheet | afr.com:

"The 70 family members of Australia's sixth largest wine company, McWilliams Wines, are being asked to stump up a combined $15 million in a rights issue to bolster the company's weak balance sheet.

McWilliams chief executive Jeff McWilliam said the company, which sells brands such as Mount Pleasant, Hanwood Estate and Off the Press, had been through some heavy restructuring in the past three years which had triggered large one-offs. He said raising equity was a practical route because banks were still wary of the wine industry."



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