A new business called The Heritage Wine Company is looking to expand by buying independent wine merchants.
The company has just acquired Winchester Wines, which owns The Secret Cellar – an indie based in Tunbridge Wells which has four sites in Kent, East Sussex and Surrey.
Heritage is owned by Australian MW Miles Corish – whose Milestone Wines business will now be incorporated within the new business – and Texan businessman Jim Ludwig, who has been based in the UK for almost two decades.
The deal also gives the company control of Milton Sandford Wines, an upscale import and wholesaling business.
“We sifted through 1,000 businesses in the UK to identify 18 that met our investment criteria,” says Ludwig. “We ended up completing on this one. We’re still looking for potentially more to add to the group.”
Ludwig says this search “absolutely” includes independent wine shops, though not in locations that compete with The Secret Cellar.
“That’s where the inspiration for the name Heritage Wine Company came from,” he says. “We both recognise that local independent retail shops across the country are part of the community, especially when you get into nice rural market towns. There’s always an independent wine merchant in these places.
“When they’re looking to transition, or wanting to retire and there’s not a family member to leave it to, or not a bigger structure, we would provide a sympathetic home. We’re all about respecting those traditional brands and the place they have within the community. We’d be trying to build on that and keep that spirit alive.”
Ludwig stresses that such ambitions are not for the immediate term. “I think we’ll be taking a bit of time to bed this one in first,” he says.
“We’re not trying to consolidate the three businesses. We’re trying to run them in a way that maintains the identities that they’ve always had. But we’ll try to optimise and to improve where they can co-ordinate and work together.”
The Secret Cellar will have the option to look at expansion plans within the new set-up, beyond its current locations of Tunbridge Wells, Wadhurst, Oxted and Forest Row.
The sale of parent company Winchester Wines to The Heritage Wine Company means that the Employee Ownership Trust – created in 2022 to give the Secret Cellar team the chance to buy the business outright over a period of years – will now be disbanded.
Milestone Wines was founded by Corish in 2017 and operates primarily as an on-trade supplier in the north west of England, but also sells nationally to the off-trade.
“Geographically, it will be advantageous to have a southern foothold, and the expanded group’s combined expertise allows us to leverage our offering and enhance the value we provide to our customers and partners,” says Corish.
Ludwig adds: “Our strategy is focused on building a nationwide network of off-trade distribution along with strategically-located retail outlets. Combining Milestone with the acquisition of Winchester marks our first step in this ambitious plan.
“Acquisitions will play a crucial role in our growth, and we are eager to engage with small business owners who are seeking the right home for their family enterprises.”
