Novato, California based Winery Exchange announced the expansion of its business in Asia through a joint venture with Otis McAllister, a leading importer and food company in Hong Kong and China. The beverage alcohol market in Asia has grown substantially in recent years providing an ideal opportunity for Winery Exchange to expand its business. Otis McAllister will now serve as the sales and distribution arm of Winery Exchange throughout Asia.
“The Asian wine market is growing very fast and there is a lot of opportunity,” said Dan Irving, International Managing Director, Winery Exchange. “This partnership is very exciting as it combines our strong global capabilities developing, producing and delivering beverage alcohol products to customers with Otis’ strong business relationships throughout Asia; it is a great marriage of capabilities.”
According to the Rabobank report “Wine in China – Mind the Gap”, Wine imports to China grew by 65 percent to 241 million litres in 2011. “We are thrilled about the partnership with Otis McAllister for the high growth Asian market,” said Peter Byck, President and CEO, Winery Exchange. “They have a very successful long-term track record of doing business in Asia and their core values are perfectly in line with those of Winery Exchange.”
Otis McAllister has been operating in the food and beverage industry in Asia for over 100 years. “It is very clear to us that the beverage alcohol industry will continue to be a tremendously strong area for growth in China and elsewhere in Asia,” said Royce Nicolaisen, Chairman and CEO, Otis McAllister. “We are very committed to this market and confident that Winery Exchange is the ideal partner to expand our business in this sector there.”