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.
Whenever we read anything about Millennial consumers, there is almost always mention of the personalisation trend as well as the importance of social media....
Ever wondered what fuels Anheuser-Busch InBev's acquisitional drive? Is it naked ambition? Faith? The good of mankind?...
Anheuser-Busch InBev is reportedly calling a halt to its Seth Rogan and Amy Schumer Bud Light campaign in the US....
Today is SABMiller's final day. Some time this evening, Brussel's time, the second-biggest brewer in the world will be subsumed into the biggest, creating a beer behemoth of unprecedented proportions....
- Cannabis – A clear and present danger to alcohol
- Is Irish whiskey ready to recognise its potential?
- Interview - Bernstein analyst Trevor Stirling
- The European beer market - Focus
- Trump, local spirits and the IR role - The Analyst
- Diageo appoints first programmatic marketing head
- Corporate Relations Director to leave Diageo
- Bacardi names new global communications head
- Diageo strike threat postponed with fresh vote
- Diageo, Nolets unveil latest Ketel One campaign