Blog: Did Cerberus Capital bid for Foster's Group wine?
Chris Mercer | 8 September 2010
US private equity firm Cerberus Capital Management has been touted as the mystery bidder for Foster's Group's wine arm, Treasury Wine Estates.
A report posted on the Wall Street Journal website today (8 September) names Cerberus Capital as the likely source of the AUD2.7bn bid for Treasury Wine Estates. The report did not cite sources.
Foster's has rejected the bid, as I'm sure you'll be aware, although the group could certainly play the development to its advantage.
Cerberus Capital was unable to immediately comment when contacted by just-drinks today. The move would mark a significant detour for a private equity company that has thus far made its name in transport-related acquisitions covering aviation and Chrysler cars.
In terms of food and drink, the group's only real claim to fame is as a franchisee of Burger King and owner of convenience stores in the UK and US.
Not that Foster's would have necessarily minded. Any interest in Treasury Wine Estates will further its cause.
Spotted in Havana this week – a healthy stock of Pernod Ricard's Havanista rum. ...
Alcohol always has a big presence at the Oscars, albeit mostly in a supporting role....
Business is booming at copper pot still makers Chalvignac - you can tell from the loud noise coming from its factory floor in the French town of Jarnac-Champagne. ...
Heineken is betting big on the long-term opportunity around soccer in the US. ...
- Interview - Beam Suntory's EMEA president
- Beckham, Diageo and the Allure of the VIP Pop-Up
- What do A-B InBev results mean for SABMiller deal?
- Interview - William Grant & Sons
- Interview - Beam Suntory's EMEA head - part II
- Diageo, Beckham launch VIP pop-up for Haig Club
- Pinnacle Vodka, Skinnygirl roll out on ice
- Diageo completes Don Julio, Bushmills swap deal
- Diageo reveals US$400m Tequila investment
- Beam Suntory strikes new Baltics tie-up
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends research
- Wine, 2014 and the future
- Beam Suntory Inc. - Strategy and SWOT Report
- Spirits and RTDs, 2014 and the future
- Global RTD/RTS insights - market forecasts, product innovation and consumer trends research