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.
The long-running spat between US and Czech brewers stepped up a notch this week after the Czech president described American beer as “filthy water”....
I've stopped short of covering it as a product launch story on just-drinks, but take a look at this. Released this month in the UK, Snuffle Dog Beer is already available in 25 markets....
PepsiCo received high praise when it announced it was to launch its stevia-based Pepsi extension True exclusively on Amazon in the US....
Sean 'Diddy' Combs, the US rapper and entrepreneur, has publicly turned against his apparent former favourite Tequlia brand, Patron, now that he is joint-owner of DeLeón Tequila....
- Why Chinese beverages won't conquer the world
- Is “Craft” the Next Big Thing for Soft Drinks?
- Gin: Plymouth's from Plymouth, London's from...?
- Petropolis Finally Moving into SABMiller's View?
- Can Coca-Cola fuel SABMiller's soft drinks story?
- Diageo confirms Australia RTD abv drops
- Pernod launches online Ballantine's "experiment"
- Global vodka sales slip in 2013 - research
- SABMiller returns to Brazil with Petropolis tie-up
- Pernod takes Absolut Warhol push to Travel Retail
- Early Signals: future scenarios that will drive consumption and product innovation over the next five years
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- Global vodka insights - market forecasts, product innovation and consumer trends research
- The IWSR Forecast Report - 2014-2019 Global Review
- The IWSR Global Trends Report 2014