Australia’s newly formed Hardy Wine Company should “comfortably” meet targets set by new owners Constellation Brands according to its chief executive David Woods.
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Hardy is part of the corporate restructuring following Constellation’s A$1.9 billion (US$1.14 billion) takeover of the BRL Hardy group. The New York based parent expects its Australian acquisition to contribute up to 25% of its sales in 2004 largely through its market strength in the United Kingdom together with sales to America.
Woods, working under BRL Hardy’s former managing director Stephen Millar, said the Constellation link meant Hardy’s potential for expansion could be multiplied threefold.
