Blog: PLW ping pong
Chris Brook-Carter | 25 September 2003
The battle for Peter Lehmann Wines is beginning to feel like a game of financial ping pong, and one which seems to be doing none of the participants any good, least of all the ball, Peter Lehmann Wines. The comments yesterday by founder Peter Lehmann about the ability of the company's independent directors (who initially backed the Allied bid) to carry on in their roles, suggests the eventual winner is going to inherit a company battered and bruised by this process.
The motives of any of the players in this drama are hard to read, particularly Allied, which, should it win, will be paying for one of the most expensive wine assets in recent history.
A leading figure in the Australian wine industry whom I spoke with on Monday, suggested that Peter Lehmann Wines just doesn't control the grape supplies to make the volumes Allied will need to sell to justify this price. However, he suggested this could be the start of something for the company in Australia and if Allied could secure the amount of grapes it will need by perhaps making other acquisitions - in particular McGuigan-Simeon - the Bristol-based giant could still make this deal pay.
Greetings from Zurich. Here as a guest of Heineken's Amstel brand, I'm due to sit down later today with the group's senior global director for international brands, Walter Drenth....
Drinks companies spend a lot of money on trying to predict trends. At last night's Worshipful Company of Distillers City debate, any strategists in the audience got a bit of forecasting for free....
I'll admit to being partial to an Aperol Spritz now and again, more usually in the summer months, sitting outside, shades on, slowly turning more golden/rusty....
Jim Cramer, the excitable host of stock-picker programme Mad Money on CNBC, turned his attention on US brewers last week, attempting to forecast which has the most potential for investors....
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