The head of Constellation Brands' wine division has said he believes the chances that rival Southcorp will remain independent are "fairly small".

Speaking in an interview with the newswire Dow Jones, Stephen Millar said: "I think it (a takeover bid) is a possibility."

He continued: "I think Southcorp is under a lot of pressure. It's common knowledge that they've gone through a pretty tough time.

"If somebody makes the right offer, you have to ask yourself would institutions accept? You know they would."

Millar said he believes Southcorp would be a nice addition to Foster's wine portfolio, who are one of two or three groups that might have an interest in the embattled Australian winemaker.