By Andy Young

Casella Family Brands (CFB) has topped off a successful year of expansion and acquisitions by posting a profit increase.

In figures registered with the Australian Securities and Investments Commission, the family-owned company saw its profits increase by 8.5 per cent to over $41 million, as it was boosted by increased exports of its Yellow Tail brand and the weak Australian dollar.

John Casella told TheShout: "I'm very pleased with what we’ve been able to achieve in an increasingly competitive industry. The results are testament to our focused approach and the hard work and dedication of the entire team. 

"I look forward to building on this success as we continue to execute our business strategy in FY16; to celebrate regionally distinct winemaking from premium Australian wine regions on a global scale."

It has been a busy time for CFB since it acquired Peter Lehmann Wines late in 2014. Since then the company has acquired Brand's Laira from the McWilliam's Wine Group and bought the Howcroft Estate Vineyards in South Australia. The company has also launched a trial Yellow Tail beer in the US and last month announced that it is planning to establish a European division called Casella Family Brands Europe.

CFB posted its profit for the 2015 fiscal year, which was up from the $37.7m it posted in 2014. Revenue for the 2015 year also increased, up from $367.25m to $394m.

Yellow Tail is a big driver for CFB, being the biggest-selling imported wine in the US, with over eight million cases a year shipped to the US.

The Shout Team

The leading online news service for Australia's beer, wine, spirits and hospitality industries.

Leave a comment

Your email address will not be published. Required fields are marked *