Woolworths buys online wine business

Woolworths Ltd says it has bought upmarket online business Langton's Fine Wines
Auctions Pty Ltd in a move to shore up its already extensive liquor business.
The supermarket giant did not disclose the purchase price.
Langton's owner Stewart Langton started the business 20 years ago selling expensive
wines as an auction house, then moved online seven years ago.
"I've had a number of approaches over the years to sell and I've always turned them
down," Mr Langton said on Monday.
"In this case, the Woolworths approach was one that suited because it will enable me
to grow my business in way that I want to," Mr Langton said.
"As a small independent operator, it's very difficult, so quite simply it was the
right deal for me and my business."
A spokeswoman for Woolworths said Langton's was a small but smart purchase for the
company.
"It's a really good business, Dan Murphy's has been a customer (of Langton's) for
quite some time," the spokeswoman said.
Dan Murphy's is Woolworths liquor arm.
The Woolworths spokeswoman said the two business would work together but remain
separate entities.
"It's a really good fit for us in the fine wine and liquor market and it also gives
us access to their online fine wine liquor channel."
Mr Langton will stay on with the online business after the sale.
"It will left to operate, the way it's been operating - that won't change," Mr
Langton said.
"(Woolworths) will look at the business over a period of time, the same way they did
with Dan Murphy's when that was purchased - for the first four years nothing was
done, it was just allowed to operate and they learned to understand it.
"And of course it went from five shops to 96 at the present time I think and with
Langton's they will look at it and discuss with me what I want to do."
Woolworths shares closed 55 cents lower at $27.15.