Coterie Holdings becomes storage, lending partner for fine-wine investment firm Cult Wines [Yahoo! Finance]
MARKS & SPENCER GRP S/ADR (MAKSY)
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Source: Yahoo! Finance
Under the deal, terms of which were not disclosed, Cult Wines will have access to Coterie Holdings' 10-million-bottle storage facility, Coterie Vaults, which was completed in 2023. Coterie Vaults will become the exclusive storage partner for Cult Wines. Cult Wines will also have access to Coterie Holdings' wine-lending business Jera, which it acquired in January. Coterie Holdings will also provide “a secured lending facility to Cult Wines”, it said in a statement. Just Drinks has contacted the companies for more information. Tom Gearing, CEO of Cult Wines, said: "This agreement will enable us to offer an unmatched level of service and innovation to our clients, further solidifying our position as the global leader in wine investment. “Coterie Vaults is the leading wine storage facility in the UK, and this partnership secures warehousing capacity for our customers and future business expansion.” Founded in 2007, Cult Wines manages approximately £250m ($319m) in wine assets f
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