UK-based fine-wine group Coterie Holdings has entered into a partnership with fine-wine investment firm Cult Wines, providing storage and lending services.
The financial details of the agreement were not disclosed, but under the deal, Cult Wines will gain access to Coterie Holdings’ newly completed 10-million-bottle storage facility, Coterie Vaults, which will serve as the exclusive storage partner for Cult Wines.
Additionally, Cult Wines will utilize Coterie Holdings’ wine-lending business, Jera, which was acquired by Coterie in January. Coterie Holdings will also provide a secured lending facility to Cult Wines, according to a company statement.
Tom Gearing, CEO of Cult Wines, stated, “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.”
