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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”.


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Mon Sep 01 00:00:57 2014
Chaker Khazaal

& here's to the rain storm. Perfect weather for wine, writing & @ElissaKh tunes. #NYC

Sun Aug 31 20:40:50 2014
Colton Haynes

He legit would not give me wine even after showin him my credit cards. I'm kinda happy but really pissed off. ...

Sun Aug 31 04:06:53 2014
On S'comprend

RT @LcCeline: Gyptian - wine slow #NP 😍😍😍😍

Mon Sep 01 07:26:46 2014

@haybelle_ @allieeeecat_ "the wine got me."

Mon Sep 01 07:26:46 2014
Estefany Alejandra

You know what would be great right now? A glass of wine and our conversations on life 👌🍷 @KatrinaaG

Mon Sep 01 07:26:46 2014
Hello Perth

RT @SandalfordWines: Don't forget to check back here soon for a major concert announcement for Sandalford Wines, Margaret River Wine... htt…

Mon Sep 01 07:26:45 2014
jess m.

wine + cupcakes + late night phonecalls 💕

Mon Sep 01 07:26:35 2014

Y did my cousins visit me last nyt with bottles of wine?? my head is spinning I can't work!

Mon Sep 01 07:26:34 2014
Hayley Nicastro

@camtangco @allieeeecat_ I meant to tweet the camero part of those texts but the wine got me 😔

Mon Sep 01 07:26:31 2014

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