By Ian Neubauer
The publicly listed vehicle known as Global Wine Ventures (GWV) has changed its name for the second time since its debut on the Australian Stock Exchange (ASX).
GWV, which is now operating as Brand New Vintage (BNV), made news in January when it signed an agreement to acquire Yarra Valley winemaker Sticks. The $10m acquisition added 24.5 hectares of vineyards, a bottling plant and a 4000-tonne capacity winery to the company’s portfolio.
BNV director Sam Atkins said directors decided to change the vehicle’s name last week following settlement of the Sticks acquisition.
“We decided to change the name of the business to Brand New Vintage to reflect a new beginning and a new direction for the public company vehicle,” Atkins said.
“The vision of the business is about creating a new public entity driven by brand and backed up by tangible assets.”
GWV was born from the ashes of Xanadu, a WA-based company that first listed on the ASX in 2000.
BNV shares have climbed 8 per cent in value to 50 cents since the company appeared on the ASX on March 7.