NZ: Private equity bid seen as Independent leader
A private-equity consortium of Pacific Equity Partners and Nikko Principal Investments has reportedly tabled the highest bid for New Zealand RTD group Independent Liquor.
According to the Australian Financial Review today (7 December), the consortium made an offer of around NZ$1.13bn (US$778m).
Lion Nathan, considered the front-runner before yesterday's deadline, has also lodged a bid close to the highest offer, the report said.
Analysts had valued Independent, the maker of RTD brands including Vodka Cruiser and Mudshake, at around A$1.1bn (US$868m) and the company has attracted a range of interest.
Foster's Group has also been mentioned as a possible bidder, although just-drinks understands that the company would only consider buying Independent if it was available at a "knock-out price".
Independent was put up for sale in the wake of the death of its founder, Michael Erceg, in a helicopter crash in last year. The company's directors had asked UBS to manage the sale but the investment bank has refused to comment on many bids it had received. An announcement on the sale is expected before the end of December.
Bacardi has launched Eristoff vodka in India and plans further investment in the country, according to local reports....
V&S Group has set up a joint venture in the Chinese domestic spirits market....
Luctor International is bringing an additional vodka flavour to its Van Gogh brand in the US....
Spirits marketer Drinks Americas Holdings has launched a national print advertising campaign for its Trump Super Premium Vodka brand....
Spirits producer Central European Distribution Corporation (CEDC) has announced that Moody's Investor Service has issued an upgrade on the company's corporate family rating from B2 to B1 with a stable...
Pernod Ricard has confirmed that its managing director has visited Sweden to look at Vin & Sprit's Absolut vodka brand, ahead of a possible sell-off....
Eckes AG has sold Stock Plzen in Czech, according to reports....
Bibendum has appointed an addition to its board of directors....
- Diageo NA head on Trump, Millennials, Bourbon
- Has Millennial-mania drowned out elder consumers?
- Interview - Loch Lomond GTR head Andre de Almeida
- Absolut and Smirnoff's conflicting Millennial view
- Trump, local spirits and the IR role - The Analyst
- Beam Suntory opens global headquarters in Chicago
- Diageo wine assets integration head to leave TWE
- Absolut not "sufficiently focussed" on Millennials
- Pernod Ricard targets at-home drinking
- Molson Coors names UK & Ireland managing director
- Luxury Alcoholic Drinks: The Spirit of Premiumisation
- Global gin insights - market forecasts, product innovation and consumer trends
- Global Wine Market 2016-2020
- Global Cognac insights - market forecasts, product innovation and consumer trends
- Global rum insights - market forecasts, product innovation and consumer trends