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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 decanter.com 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”.




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ESPN

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Tue Jul 26 20:21:39 2016
伊藤千晃(AAA)

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Wed Jul 27 10:52:04 2016
Lilly Singh

My heart is breaking because @SophieT was also at the premiere and I didn't ambush her with cuddles and a chalice of wine. #IFail

Wed Jul 27 06:00:41 2016
lilly

wine & lany, thr best :)

Thu Jul 28 04:39:06 2016
Lyrical Lively

I BEEN SIPPIN 40'S OF COMMUNION WINE ALL DAY FAMILY, I BE OUT ON THE BLOCK LIT AF

Thu Jul 28 04:39:04 2016
Stanley Mudawarima

@TrevorNcube Habari Cde Ncube have a beer bharidhi sana instead of the red wine for a change when u get the chance🍻well 2 maybe

Thu Jul 28 04:39:00 2016
mean girl.

Just "wine and dine" everything is fine... It don't work like that I put in too much time‼️

Thu Jul 28 04:38:58 2016
The one & only✨

This wine getting to me... He sleep. Finna lick the tip tho.

Thu Jul 28 04:38:57 2016
Armando Corsi

Years of work:3 - numbers of hours: countless - reward: immense - article: 1 https://t.co/Tww8PNfp07 @EhrenbergBass thanks @Wine_Australia

Thu Jul 28 04:38:57 2016
andres.

Laying poolside by the pool reading this book, no wine but still life is great

Thu Jul 28 04:38:55 2016

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