Rich Lister Casella Wines family, which owns Yellow Tail, predicts a wave of distressed wine assets will hit the market over the next year

predicts a wave of distressed assets to hit the market in the broader wine industry over the next 12 months.which generates annual sales of 12 million cases, said his company would avoid any buyouts. He would not sell brands either, as the company seeks stability in a tough market.He said there was a

Casella, which is based near Griffith in NSW, began acquiring premium brands in regions outside its core Riverina holdings about nine years ago to diversify from the Yellow Tail brand, which became the biggest-selling imported wine in the United States after being established in 2001. But Australian wine’s position had been taken by companies from countries such as Argentina and Chile. “Other companies haven’t been sleeping,” he said.

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