News

AUS: Constellation Brands, Australian Vintage end merger talks

Most popular

Pernod Ricard in YTD fiscal-2021 - preview

The just-drinks Analyst returns - Apr '21

The just-drinks Analyst returns - Apr '20

Heineken throws Q1 surprise - analysis

Remy Cointreau in fiscal-2021 - results preview

MORE

Talks between Constellation Brands and Australian Vintage over a possible merger have closed, with the two firms deciding not to progress further.

Constellation and Australian Vintage, who opened talks back in November, confirmed late yesterday (7 April) that they “were not going to be successful in accomplishing” a mutually beneficial combination.

The companies had been looking at ways to merge their Australian and UK businesses, but noted yesterday that it was “in the best interest of Constellation and AVL” to discontinue the discussions.

“There were a number of goals both parties were attempting to accomplish through the combination,” said Constellation’s president and CEO, Rob Sands. “Over time, it became evident that despite both parties’ best efforts we were not going to be successful in accomplishing all these goals.”

Constellation will continue to operate its Australian and UK businesses, while AVP will also “continue to manage the business through the cycle and look at all opportunities as conditions improve”.

In August last year, Constellation began a "realignment" process of its European and Australian wine divisions, as the downturn started to bite.

//i4.progressivedigitalmedia.com/1/header_bg.jpg

Related Content

Constellation Brands in fiscal-2021 - results preview

Constellation Brands in fiscal-2021 - results preview...

More to come in hard seltzer from Constellation Brands, warns CEO

More to come in hard seltzer from Constellation Brands, warns CEO...

Constellation Brands Performance Trends 2016-2020 - results data

Constellation Brands Performance Trends 2016-2020 - results data...

Constellation Brands Performance Trends 2015-2019 - results data

Constellation Brands Performance Trends 2015-2019 - results data...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?