Online wine business The Wine Collective has completed its acquisition of the remaining assets of collapsed cooperative The Wine Society.
The society was placed under administration in July owing $2 million, but had effectively been operated by The Wine Collective since its first financial wobbles in 2016 with all stock and staff contracted to TWC control.
The administration procedures opened the opportunity for The Wine Collective to purchase outright the society’s database of around 20,000 members, intellectual property, licences, name and trademarks, and residual business assets.
Shares in The Wine Collective previously owned by The Wine Society have now been purchased by other shareholders.
Under the new arrangement, society members will continue to have access to more than 7000 Australian and international wines on delivery. Members will be incorporated into The Wine Collective and will continue to receive ongoing special offers and preserve their loyalty status.
The Wine Society has a distinguished history, having traded since 1947. It was famously parodied in a 1972 Monty Python sketch as “The Australian Wino Society”.