The bid made last week for the Australian winemaker Peter Lehmann Wines by the Swiss-based Hess Group has prompted speculation that Allied Domecq may be considering a rival bid.

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Hess tabled a A$133m package of A$3.50 cash a share and PLW independent directors have agreed to accept in the absence of a higher bid.


But some analysts believe the bid falls short of a competitive offer. Allied Domecq already controls a 14.5% stake and may be prompted into trying to protect its investment.


An Allied Domecq spokesman said: “We already have a 14.5% stake and we are watching the situation with interest. We are currently assessing our options.


“We may be making some comment over the next day or so,” he added.

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Just before unveiling its bid Hess and PLW also announced that they had signed a distribution agreement allowing Hess to distribute Peter Lehmann wines in the US.


The Hess offer, which is subject to achieving a minimum 35% acceptance, also has the backing of the PLW board and founder Peter Lehmann.


In a letter to shareholders, Peter Lehmann said that accepting the Hess bid was ” the only way I can see to save the identity and integrity of the company I founded to help the Barossa grape growers.”


He said that Hess had “strong marketing skills, sound understanding of the wine industry and most importantly, is run by what I would term ‘people’s people'”.


The chairman of PLW, Richard England, has also called Hess a better fit than Allied Domecq, saying the Swiss company was “at the same sort of price point as us”.


He added that Allied had been a shareholder for 18 months and it was still unclear what its intentions were.


“They’ve had plenty of time to bid for the company,” he said.