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Constellation Sells its Wine Businesses

28 - dec - 10

A selling spree is taking the wine world by storm it seems. Constellation Brands has sold its wine businesses in Australia, the UK and South Africa to a private equity company in a deal worth A$290m.

According to a report, Sydney-based CHAMP Private Equity will buy 80% of Constellation Wines Australia and Europe (CWAE) for A$230m under the terms of the deal, including high-profile brands like Hardys and Kumala.

The price of the acquisition is in stark contrast to the A$1.9bn Constellation paid for the BRL Hardy wine business in 2003.

“The CWAE business sells quality wines from the important Australian appellation and has significant scale, but continues to be faced with challenging market conditions,” said Rob Sands, president and CEO of Constellation Brands.

“Therefore, the business is no longer consistent with Constellation’s strategy. We believe CHAMP has the requisite skills and motivation necessary for accelerating the success of the CWAE group.”

CHAMP managing director John Haddock said the company was “committed to supporting management in building a competitive and profitable business in the Australian and UK markets, and will invest to grow the business”.

Jewel Staite

"I should drink water." <drinks cappuccinos till 5pm> "I should drink water." <drinks wine> "I should drink water." <dies of dehydration>

Thu May 26 17:26:53 2016
MailOnline Sport

Is that wine to celebrate? Jose dressed to impress as he prepares for United confirmation

Thu May 26 16:45:07 2016
Paul Stanley

AWESOME dinner tonight! Chicken with Marsala wine, Dijon mustard, herbs and LOTS more. Who wants some? @FoodNetwork

Fri May 27 02:29:53 2016

RT @LindsayLaing: Wine us up and watch us go🍷😝

Sat May 28 05:49:10 2016
Hickinbotham Wines

Santé @VINEXPO! Great reward for an amazing vineyard. @mclaren_vale @Wine_Australia #Clarendon #BrooksRoad #Shiraz

Sat May 28 05:49:07 2016

@BacaWakaFlocka @ItsRYANnotRyan red wine

Sat May 28 05:49:07 2016
Erica M

When you spill red wine on your white comforter 😭😭😭

Sat May 28 05:49:06 2016
Street Food & Vine

RT @HesterCreek: Both great! RT @Food_Wine_Fun: Which of these would you choose? #wine #Okanaganwine #kelowna @HesterCreek…

Sat May 28 05:49:05 2016

RT @amy_korslund: @MaggieDynamo will you be here Sunday for GOT? I got a gallon jug of wine!! #GameofThrones #wine #winteriscoming

Sat May 28 05:49:04 2016
Miss Fancy.

This wine not doin it

Sat May 28 05:49:03 2016

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