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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”.

Evan Edinger

My friends are watching Fall Out Boy and I'm drinking wine and eating spaghetti why is this a metaphor for my life

Sun Aug 28 19:41:34 2016
Daniel Preda

I'm going to need wine for this. #VMAs

Mon Aug 29 01:50:56 2016

k.. stick ur tongue out on 3 @ Malibu Wine Safaris

Tue Aug 30 02:16:25 2016
Sensual Baskets

#Share your #bridalshower with the #man you #love #wine #whiskey #groom #bride v

Tue Aug 30 07:14:17 2016
Charlie Ingham

RT @andrewcingham: Go and read my blog! sticky wine and an autumn πŸ‚ pudding! πŸ‘πŸΌπŸ―

Tue Aug 30 07:14:16 2016

@stellarwambui you knoooooooooow; finer than wine πŸ˜‚

Tue Aug 30 07:14:13 2016
Winemaker's Guide

In the looking-glass we see our form, in #wine the heart.

Tue Aug 30 07:14:06 2016

RT @TeriPolo1: Wine

Tue Aug 30 07:14:05 2016

"You're drinking the wine that he bought you" "don't remind me or I'll have to go get the Malibu"

Tue Aug 30 07:14:04 2016
Dragon 8 Fine & Rare

More than a few #sports #writers have turned to the #wine beat... and here's why... @CJR

Tue Aug 30 07:14:03 2016

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