Altaya Group acquires Rare & Fine Wines

Hong Kong wine merchant the Altaya Group has bought Rare & Fine Wines, it announced on Tuesday.

A local wine retailer established in 2003, Rare & Fine Wines has three Hong Kong shops, located at Bank of East Asia Building in Central, The Putman in Sheung Wan and Hankow Centre in Tsim Sha Tsui respectively.

Rare & Fine Wines will maintain the brand name, and will continue to be operated by its general manager and founder Mr. KK Wong.

Meanwhile, the day-to-day administration of Rare & Fine Wines will fall under the Altaya Group’s retail arm, etc wine shops.

‘The acquisition of Rare & Fine Wines is the perfect accompaniment to Altaya Group’s retail arm - etc wine shops.’ said Paulo Pong, managing director of the Altaya Group.

‘It is a valued brand that is entrusted by many wine lovers and we plan to expand the number of outlets to serve more customers.’

Started as a wholesale wine merchant in 2001, the Altaya Group expanded into the retail sector in 2011 and has since launched three region-themed wine stores - bordeaux etc, burgundy etc and champagne etc.

With the acquisition of Rare & Fine Wines, Altaya Group takes a step forward to its expansion target of 15-20 outlets in the next three years across Hong Kong and mainland China.

The deal is effective immediately.