AUSTRALIA: Remy-Cointreau sells off Australian wine estate
The estate, in the Central Victoria area, was the group's only wine interest in Australia and it had owned the business for some 40 years. The sale includes 185 hectares of vineyards.
Blue Pyrenees produces around 90,000 cases of wine a year, with annual sales thought to be in the region of A$15m. The company's principal brands are Blue Pyrenees, Fiddler's Creek and Ghost Gum.
Remy-Cointreau had put the company up for sale in late-2001, and was thought to have originally put a A$20m price tag on the business. Initially, a management buyout had seemed likely but this deal foundered.
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 ...
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