California wine fever takes hold as multinationals move in
One week of merger mania in Californian wine has the industry braced for a major consolidation. Larry Walker investigates the dynamics driving the fever for US wine companies. Three major acquisitions in the California wine business in the last week of August have left the industry holding its breath, wondering who will be next. It began with Australia's Foster's Brewing Group buying Beringer Wine Estate for $1.5 billion. Going almost unnoticed, on the same day, Canada's Vincor International bought R.H. Phillips for $92m. Two days later, The Wine Group bagged half a dozen of Sebastiani's high volume brands in a deal believed to be worth $300m-plus. The Foster's deal in particular is likely to prompt further consolidation, experts believe. It has been widely reported that two other Australian wine companies, Southcorp and BRL Hardy are interested in wineries in California.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-drinks gives you the widest beverage market coverage.
Paid just-drinks members have unlimited access to all our exclusive content - including 16 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Olly Wehring, editor of just-drinks
- Job cuts not the whole story at AB InBev - Comment
- Diageo's smart Seedlip sustainability move
- Pernod Ricard Q4/FY 2016 results - Preview
- Brown-Forman's Q1 performance by region, brand
- Why Vietnam is the next beer battleground
- CEO Paul Schaafsma set to leave Accolade Wines
- AB InBev to cull 5,500 jobs after SABMiller buy
- ASA bans Diageo's Captain Morgan UK ad
- Diageo revamps Gordon's gin bottle in UK
- Heineken unveils new mid-strength lager Heineken 3
- The Next Seven Big Beverage Markets
- Global rum insights - market forecasts, product innovation and consumer trends
- Adultifying Soft Drinks; Capitalizing on rising adult demand for non-alcoholic beverages
- Global RTD insights - market forecasts, product innovation and consumer trends
- Staying in the Mix: The Global Concentrates Market in 2016