Blog: DBR no longer the (Cha)lone bidder
Chris Brook-Carter | 16 December 2004
As Christmas approaches, it's tempting to think that things might wind down on the news front here at just-drinks, as we clear the decks after a hectic year and prepare for an equally busy 2005. Yesterday provided a timely reminder, however, that the year is far from over. In fact, we could have another bidding war on our hands.
California’s Chalone Wine Group rejected an existing buyout offer from French luxury wine maker Domaines Barons de Rothschild yesterday (13 December), saying it was now entertaining a better offer. Chalone refused to reveal who had made the advance, saying only that it came from a company with “significant wine operations.”
The new offer trumps Rothschild’s bid, first announced in May, of US$11.75 per share by an extra US$2. Rothschild had teamed up with Constellation and private Californian vintner The Huneeus Family to make the offer.
The Californian wine industry has had a colourful 12 months. As The Wine Group’s purchase of Golden State Vintners and Constellation acquisition of Robert Mondavi suggest, the pace of consolidation shows no sign of abating. So, who is the mystery courtier this time?
E&J Gallo gets linked with almost every acquisition opportunity in the state, but it isn’t the family-run company’s style to start a fight, and Constellation already has its thumb in the pie as part of the Rothschild joint venture. The Wine Group, meanwhile, is presumably happy digesting its GSV purchase earlier this year.
Our money is on the biggest looking to get even bigger. Allied Domecq is always keen to boost its premium wine portfolio, while Chalone could sit nicely on Diageo’s mantelpiece alongside Blossom Hill, if the spirit giant finally felt this was a wine acquisition it could squeeze a decent ROI out of.
Of course, if I was any good at this fortune-telling lark, I wouldn’t be sitting at this computer on a damp Tuesday morning in London, would I?
Philadelphia’s soda tax came into force on Sunday, and is reportedly causing a stir in the city's check-out aisles....
Earlier this month, I was most-kindly invited by Accolade Wines to visit the Royal Albert Hall in London. The reason? They wanted to see a tennis great in action, and then give them a guided tour thro...
Do you like whisk(e)y? And, I mean, really like whisk(e)y? Are you at a loose end in the first half of 2017? If so, then I've found just the job for you....
Most of the time, changes at the top of a company present themselves in press releases, stock exchange filings or responses from a spokesperson....
- What's coming up in spirits in 2017? - Comment
- When BRIC markets go horribly wrong
- What's coming up in beer in 2017? - Comment
- Interview, Philip Gregan, New Zealand Winegrowers
- Remy Cointreau's bellwether Q3 - analysis
- Diageo closes spirits e-commerce portal in UK
- A-B InBev acquires Spain's Cervezas La Virgen
- Home entertaining offers drinks opp's - Diageo
- Diageo mulls United Spirits stake buy - report
- Remy Cointreau sets up whisky division
- Global vodka insights - market forecasts, product innovation and consumer trends
- The Next Seven Big Beverage Markets
- Global Cognac insights - market forecasts, product innovation and consumer trends
- Global gin insights - market forecasts, product innovation and consumer trends
- Opportunities in Craft Spirits