Blog: PLW ping pong
Chris Brook-Carter | 25 September 2003
The battle for Peter Lehmann Wines is beginning to feel like a game of financial ping pong, and one which seems to be doing none of the participants any good, least of all the ball, Peter Lehmann Wines. The comments yesterday by founder Peter Lehmann about the ability of the company's independent directors (who initially backed the Allied bid) to carry on in their roles, suggests the eventual winner is going to inherit a company battered and bruised by this process.
The motives of any of the players in this drama are hard to read, particularly Allied, which, should it win, will be paying for one of the most expensive wine assets in recent history.
A leading figure in the Australian wine industry whom I spoke with on Monday, suggested that Peter Lehmann Wines just doesn't control the grape supplies to make the volumes Allied will need to sell to justify this price. However, he suggested this could be the start of something for the company in Australia and if Allied could secure the amount of grapes it will need by perhaps making other acquisitions - in particular McGuigan-Simeon - the Bristol-based giant could still make this deal pay.
Heavy metal legend Bruce Dickinson - lead singer of the band Iron Maiden, for the unitiated - is clearly a man not afraid to get his hands dirty. ...
The homebrewing revival continues in the UK - and evidence has come that even the supermarket chains are taking it semi-seriously. ...
Does Pernod Ricard have something to hide? In a press conference after the release of full-year results today, only a quarter of the 100 minutes were given over to questions from journalists....
Here's a round-up of the top stories on just-drinks last week, featuring Carlsberg, Heineken, Coca-Cola Amatil, California's winelands and Cognac....
- The End of the Road for International Beer Brands?
- Comment - Another One Bites Bacardi's Dust
- Allegro: The shape of things to come at Pernod?
- Pernod Ricard's FY Performance by Region, Brand
- US craft vodka puts squeeze on Pernod's Absolut
- Mast-Jägermeister targets UK off-trade boost
- Pernod bemoans tough FY as sales, profits drop
- ASA bans Jägermeister TV ad
- Bacardi announces CFO switch
- SABMiller exec to become CFO at Beam Suntory