South African liquor retailer Norman Goodfellows (NGF) has acquired a substantial interest in Port2Port.wine in a deal that will create the largest online wine and spirit retail platform.
Jason McEvoy, the CEO of Norman Goodfellows, said yesterday in a statement the acquisition for an undisclosed price promised to bring together the expertise and reach of two industry powerhouses, which would enhance the liquor-buying experience for consumers across South Africa.
Port2Port.wine would continue to operate as an independent brand, under its current management team, headed by Nicolò Pudel.
Founded in 2015 and with the backing of entrepreneur Michael Jordaan and Distell, Port2Port.wine has become a premier online destination for wine enthusiasts.
Port2Port.wine offers over 2 500 wine and spirits products from 500 producers in more than 15 countries. Its Marketplace offering had facilitated a seamless connection between producers, both locally and internationally, and a discerning clientele, said McEvoy.
The acquisition by Norman Goodfellows, a family-run business of over four decades in the liquor industry, represented a significant step forward in expanding its online capabilities.
“Norman Goodfellows brings to the table its vast logistics network, extensive warehousing capabilities, and a broad product range, particularly in spirits. This collaboration is poised to elevate Port2Port’s spirits offering to over 1 000 on-site products, establishing it as the largest online marketplace for spirits,” said McEvoy.
The deal would leverage NGF’s industry expertise with Port2Port’s e-commerce expertise.
“This collaboration is poised to catalyse our growth, allowing us to scale our e-commerce capabilities more rapidly than ever before,” said McEvoy.
Pudel said this partnership came at a time where they were seeing consolidation of online liquor platforms at the lower end.
“This is therefore a great time for the premium end of the market to expand its offering – both to wine clients and consumers,” Pudel said.
NGF marketing director Mbali Zondo said the alignment of both companies presented massive opportunity: “This partnership not only signifies a major expansion in offerings and market reach for both Norman Goodfellows and Port2Port.wine, but also marks the beginning of a formidable partnership capable of taking on any e-commerce competition in South Africa’s liquor retail market. The combined strengths and talents of both companies, from Port2Port’s e-commerce excellence and extensive wine selection to Norman Goodfellows’ distribution prowess, are set to create an unparalleled force in the industry.”
BUSINESS REPORT