This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Constellation agrees sale of Australian and UK business
Constellation Brands, the world’s biggest winemaker, has confirmed it is to sell 80% of its Australian and British wine business to Champ Private Equity of Sydney in a deal valued at around AUD$290 million.
The transaction will include almost all of Constellation’s Australian, UK and South African brands, wineries and vineyards, as well as its 50% stake in Matthew Clark.
The transaction, which is expected to close by the end of January 2011, is subject to customary and routine closing conditions.
Constellation expects to use the net proceeds to reduce borrowings.
Alan Lodge, 23.12.2010