Australia’s Cobra invests US$1mil in Malaysia’s Wine Talk
By Digital News Asia January 23, 2015
- Wine Talk one of Room Service founder Mark Simmons’ ventures
- Cobra has invested or worked together with Simmons’ team on other ventures
SYDNEY-based Cobra Group has agreed to invest US$1 million in Wine Talk's business for a 20% equity stake, the Malaysian online wine delivery service company said in a statement.
The Cobra Group of Companies started selling consumables more than 25 years ago in Sydney, and its direct sales and marketing subsidiary Appco Group has more than 800 offices in 26 countries, Wine Talk.
Over the last five years, Cobra has diversified into other businesses that complement Appco’s core expertise, and now has interests in sales and marketing, insurance, financial services, motorsports, energy and high-tech manufacturing.
“Wine Talk has been growing fast and continuously in our first two years and we are excited at the prospect of accelerating growth further through our partnership with the Cobra Group of Companies,” said Wine Talk chief executive and chief sommelier David Stephan (pic).
“Their experience in the markets we are tabling for growth will be of great value to Wine Talk,” he added.
Wine Talk is a collaboration between Room Service Deliveries and Gastrodome, which operates La Bodega, Pressroom and Espressamente Illy outlets in Malaysia.
Wine Talk managing director Mark Simmons is also the founder of Room Service and Tecprotec, which offers a range of insurance products for smartphone and device owners.
The UK-born Simmons first came to Malaysia in 1997 as managing director of Cobra’s business in Asia.
“We are constantly looking for relevant and exciting investments to add to our portfolio and Wine Talk has serious and significant potential, not just in the South-East Asian region but across a number of other markets including the United Kingdom, key European markets and, of course, Asia,” said Cobra Group chief executive Paul Sanderson (pic).
“In addition, we have enjoyed excellent success with Mark Simmons and his team on a number of other successful investments that have gone full cycle and delivered over and above our expected returns, so we did not hesitate when offered the opportunity to invest into Wine Talk,” he added.
Wine Talk features over 400 labels from around the world, led by the in-house French sommelier Stephan, who specially handpicks the wine to ensure top notch quality and selections.
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