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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”.

Chris SimpsonsArtist

christmas time mistletoe and wine cliff richard sitting on the end of your bed laughing his head off xox

Wed Dec 17 16:38:53 2014

(760): What wine goes with Cap'n Crunch?

Thu Dec 18 01:03:07 2014
Sincerely Tumblr

i need a hug………e bottle of wine.

Thu Dec 18 06:05:11 2014
أَروى بَدِر

RT @SincerelyTumblr: i need a hug………e bottle of wine.

Thu Dec 18 07:09:10 2014
Madison O'Neill

Can't wait til Friday. Gonna wrap all my presents with my mom and aunt 😂 it's no doubt gonna turn into wine and half wrapped items

Thu Dec 18 07:09:10 2014
Bruce Routley

@winefront Which wine is it? I cant tell by the pic.

Thu Dec 18 07:09:09 2014

And we all just chill and sip red wine, or liquor, or beer, there is no more N word, bitches or queers

Thu Dec 18 07:09:05 2014
Daisy Rivera

ON SALE Tall Wine Glass Wedding Centerpiece in a base of artificial flowers with faux diamond band i… #Etsy #Wedding

Thu Dec 18 07:09:05 2014

Three things get more valuable and more beautiful with age, wine, antiques and you.#follow #followme #refollow #TeamFollow ##followjp

Thu Dec 18 07:09:04 2014

"At any time a fencer barrel Such silly drunk with wine, the Yarra Hey Mon " (Roronoa Zoro)

Thu Dec 18 07:09:04 2014

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