Southcorp packaging sale to fuel US wine drive
In the latest article on the continuing trend of consolidation in the wine industry, Chris Brook-Carter looks at Southcorp's attempts to sell its packaging division, which, according to a new report by Salomon Smith Barney, may fuel acquisitions in the US. The name of Southcorp is inextricably linked to consolidation at the moment. Only last week the company was mentioned in the same breath as Diageo and Allied Domecq, with the two spirit giants looking to expand their drinks portfolios. However, with the appointment of Merrill Lynch to oversee the sale of the Australian company's packaging division, Southcorp's position as acquirer rather than acquired has taken on new meaning.
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