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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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HALSEY

Too many bottles of this wine we can't pronounce.

Mon May 25 04:38:39 2015
Trevor Donovan

I’m starving. I think I’ll open a bottle of wine.

Mon May 25 02:05:06 2015
Andi Dorfman

The red wine is poured which only means one thing... It's time for #TheBachelorette 🍷🌹

Tue May 26 01:00:38 2015
Baby

I can't believe me and holl drank four bottles of wine last night 😓 and it seemed like really good reckless idea at the time but now

Tue May 26 07:19:02 2015
buycawinesdirect

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Tue May 26 07:19:02 2015
Wines of India

Duty Free Import Licenses Cut may affect Wine Sales - http://t.co/AkRvybZgWI #WinesOfIndia

Tue May 26 07:18:59 2015
Herbert Schubert

RT @winewankers: So would you happily live in a #wine barrel house? If it was always stocked it would be perfect. http://t.co/2OxhsHl6yv

Tue May 26 07:18:52 2015
LIMITED-1

Everyday i spend my time Drinking wine feeling fine Waiting here to find the sign

Tue May 26 07:18:48 2015
Rellzy

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Tue May 26 07:18:47 2015
Tammara.

I bought wine & cheese at some cheese farm in Fresno today. My level of class is off the charts today.

Tue May 26 07:18:45 2015

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