"Consumer demand for high-end wine accessories closely mirrors the demand for premium wine," said Terry Davis, managing director of Beringer Blass, a division of Foster's Group of Australia.
IWA, founded in 1983 by Bob Orenstein, has about $20 million in annual sales, mostly to U.S. consumers through its catalog and Web site. It also sells to restaurants, hotels, wineries and wine retailers.
IWA will be managed as part of Beringer Blass's global wine clubs division, and Orenstein and his management team have agreed to stay on for three years. The acquisition will allow the company to sell a wider range of products through its wine clubs; cross-market to IWA's database of 124,000 customers; offer merchandise to its Australian and European wine trade customers; and expand the retail outlets at its Australian wineries' visitor centers.
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