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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”.




Share
Marina Diamandis

When the waiter asks if you'd like to taste the wine + u just think "oh God, I don't care. JUST STICK A STRAW IN THE BOTTLE + GIVE IT TO ME"

Wed Nov 26 21:07:06 2014
LeBron James

I'm thankful for this lovely bottle of wine I just had! #HappyThanksgiving #Darioush http://t.co/K69qNW06JP

Thu Nov 27 06:43:10 2014
Guy In Your MFA

"Father slowly carved the dead turkey while mother poured another glass of wine. Our family secrets hung in the air thicker than gravy."

Thu Nov 27 16:43:44 2014
Natthawit JANJAROEN

chilling at the riverfront ag the grand opening day of the RiVer d' wine restuarant http://t.co/9AkGr8GlqJ

Fri Nov 28 14:18:58 2014
Chutikamonphonkun K.

กิน #romane_sushi @ Romane' Sushi and Wine Bar http://t.co/ti1Q616R8n

Fri Nov 28 14:18:56 2014
.

RT @mariasirens: "do you need a wine glass" "why do I need a wine glass when I have a wine bottle"

Fri Nov 28 14:18:55 2014
Charis Todd

RT @sophiemcd95: wine doesn't do us favours at all @charis_todd

Fri Nov 28 14:18:54 2014
Emily Sturtz

"Oh that's recycling? There's so many bottles out there I thought it was wine storage"

Fri Nov 28 14:18:51 2014
Kim RaineRealtorCRS

Escarole-and-Brussels Sprout Salad Recipe on Food & Wine http://t.co/FsTH8nPyUt

Fri Nov 28 14:18:51 2014
Avian

that wine smell

Fri Nov 28 14:18:50 2014

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