AUSTRALIA: Sands confident of future as takeover approved
He was speaking in Australian city of Adelaide after shareholders in wine group BRL Hardy overwhelmingly approved Constellation's take-over offer of the company.
"The history of these types of situations suggests, maybe, a slight rise in consumption," Sands said.
He also predicted the global wine industry would ultimately be dominated by three or four majors and Constellation-BRL Hardy would be one of them. Sands also reaffirmed Constellation's growth strategy, no dividends in the short term but doubling the value of the company in five to ten years. "This is truly a marriage made in heaven," he said of today's ratification vote.
Companies: Constellation Brands
A consortium led by Constellation Brands has made a tentative approach for Allied Domecq....
The Board of Directors of Constellation Brands, Inc. has declared a quarterly dividend on the company's 5.75% Series A Mandatory Convertible Preferred Stock, payable on 1 June, to shareholders of reco...
Constellation is expected to launch a counter-bid for Allied Domecq by the end of this month, according to press reports....
The Hardy Wine Company has posted a record grape harvest....
Constellation Brands is to launch a new Australian wine brand onto the US market through its North Lake Wines. The wine will be called Kelly's Revenge....
A host of drinks companies spent the weekend mulling over whether to launch counter-bids for Allied Domecq, according to press reports over the last few days....
This weekend's press reports have thrown up two other interested parties in the potential Allied Domecq carve-up....
Constellation Brands is interested in some of Allied Domecq's spirits brands, according to reports today (15 April)....
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