The biggest drinks acquisitions of 2019

French tycoon buys Sotheby’s for US$3.7 billion

In June, it was announced that Franco-Israeli media tycoon and art collector Patrick Drahi had acquired auction house Sotheby’s for US$3.7 billion.

The move returned Sotheby’s, which is one of the world’s leading fine wine and spirits auctioneers, to private hands after 31 years as a public company. Shareholders were reportedly paid $57 per share and the final offer represented a premium of 61% on Sotheby’s closing price on 14 June this year.

2 Responses to “The biggest drinks acquisitions of 2019”

  1. Sam Adams says:

    No mention of LVMH buying Whispering Angel?

  2. Josh M says:

    What about the fact that Constellation just sold off Ballast Point, which they originally purchased for $1B after just 4 years??

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