Blog: Chris MercerDid 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.

 

 


BLOG

Has beer gone to the dogs? Will it make you feel ruff? Has it got... OH, FORGET IT!

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....

BLOG

PepsiCo caught in Amazon attack

PepsiCo received high praise when it announced it was to launch its stevia-based Pepsi extension True exclusively on Amazon in the US....

BLOG

Diddy shows he's a Diageo man with prod at Patron

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 DeLeĆ³n Tequila....

BLOG

A drink that makes you thin?

The Coca-Cola Co has spent a lot of money recently fighting accusations that soft drinks make you fat....

just-drinks homepage



Forgot your password?