NEW ZEALAND: Corbans decision expected by end of month
The buyer of Corbans, New Zealand's second biggest wine company, is expected to be announced by the end of September.Final bids are due to be lodged this week with Corbans' parent, the DB Group, a subsidiary of Singapore-based Asia Pacific Breweries, which is part owned by Heineken.NZ's largest wine producer, the Montana Group, is tipped as the front runner following yesterday's ruling by the country's Commerce Commission that its acquisition of Corbans would not result in market dominance.Valued at more than $NZ100m, Corbans was reported by DB to have encountered difficult trading conditions last year, especially because of UK distribution problems, and is believed to have suffered further this year. A price of less than $NZ100m is now being predicted in financial circles with some speculation that it could be less than $NZ90m.Strong international interest, from wine companies and investors, was shown when Corbans was placed on the market in May.Foster's Brewing Group (Mildara Blass), Southcorp, Orlando and BRL Hardy, which has since acquired 100% ownership of NZ's third largest producer, Nobilos, were all tipped as strong bidders.But BRL Hardy is now believed to be a non-bidder, while Foster's acquisition of Beringer last week is likely to have reduced its interest. Southcorp is thought to be concentrating on a US venture after reportedly missing out on Beringer.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-drinks gives you the widest beverage market coverage.
Paid just-drinks members have unlimited access to all our exclusive content - including 15 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Olly Wehring, editor of just-drinks
- How to turn a domestic spirit into a global brand
- Mahou San Miguel - just the Facts
- A game of two halves for Remy Cointreau - Analysis
- Whatever happened to binge Britain? - comment
- Britvic hits make-or-break time for US Fruit Shoot
- Beam Suntory to sell brandy & sherry to Emperador
- Former Diageo exec joins William Grant in LatAm
- A-B InBev mulls sale of Peroni, Grolsch - report
- This week in spirits & wine
- Poland warning sends Stock Spirits shares tumbling
- Global Beer Trends 2015 : Global Beer Trends and Long-term Forecasts
- Future growth opportunities for global spirits
- Global sparkling wine insights - market forecasts, product innovation and consumer trends research
- Global Beer Market 2015-2019
- Global Wine Market to 2019 - Market Size, Development, and Forecasts