AUSTRALIA: Lion wine division to contribute one-third of earnings by 2005
In a report in today's Sydney Morning Herald, Lion Nathan's investor relations director, Warwick Bryan said: "If you take Montana on its own, that business will deliver EBIT of around A$100m in three years. Over that period we would build a reasonably significant wine business that would complement Montana."
The report also said he confirmed the company had a rough target of generating one-third of earnings from wine by 2005-2006.
The goal would probably have seen Lion need to acquire a small to medium size Australian winery and speculation has already mounted over the potential targets with names such as Petaluam, Banskia, Evans & Tate and Peter Lehman being mentioned.
However, Lion's targets where thrown into disarray today with the news that The New Zealand Stock Exchange had found in favour of Allied Domecq over the fight for control of Montana Wines.
A Stock Exchange investigation has ruled that Lion Nathan's acquisition of some of its 62% stake in Montana breached stock market rules.
The Australian brewer may now be forced to divest some of its stake, which could hand control of Montana to Allied Domecq.
As Pernod Ricard, Allied Domecq and Fortune Brands close in on the biggest drinks industry deal since the sale of Seagram, opinion about how the deal will be structured and who stands to win and lose ...
Cautious optimism is probably the best way to describe today's press reaction to Pernod's friendly bid for Allied Domecq....
Spirits firm Allied Domecq has agreed to a takeover bid from smaller rival Pernod Ricard, subject to agreement from Allied shareholders....
Allied Domecq last night accepted Pernod Ricard's offer to buy the UK-based drinks giant....
Allied Domecq today delivered a 7% increase in first half group profits before tax to £285m. Earnings per share were up 7% to 19.2p, turnover that was flat at £1,700m....
Drinks producer and distributor Todhunter International has said that its controlling shareholder, CL Financial, is interested in acquiring some of the brands of Allied Domecq that may become availabl...
Pernod Ricard has had its rating raised....
Allied Domecq has added a new flavour to its Malibu range. The company said yesterday that it would be launching Malibu Passion Fruit in the US from April 15....
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