INTERNATIONAL. According to Reuters, world wine giant Constellation Brands has stated today that it is considering a possible counter bid for Allied Domecq. On 21 April 2005, the board of Pernod Ricard announced that it would be acquiring the UK drinks company in a friendly takeover, in turn divesting certain brands to Fortune Brands of the US.
Allied would have to pay a penalty of £37 million if it accepted a rival takeover bid within half a year, according to reports.
“Constellation is at an early stage of evaluating its options with a number of potential partners and there is no certainty that this process will lead to an approach being made to the company,” Constellation said.
Constellation Brands, headquartered in Fairport, New York, is a leading international producer and marketer of beverage alcohol brands with a broad portfolio across the wine, imported beer and spirits categories.
It is the largest wine company in the world; the largest multi-category supplier of beverage alcohol in the US; a leading producer and exporter of wine from Australia and New Zealand; and both a major producer and independent drinks wholesaler in the UK.
Its portfolio includes leading brands from the United States (Franciscan Oakville Estate, Simi, Ravenswood, Arbor Mist), Australia (Hardys), New Zealand (Nobilo), Chile (Veramonte) and Argentina (Marcus James).
MORE STORIES ON ALLIED DOMECQ/PERNOD RICARD
Pernod Ricard and Fortune Brands confirm potential offer for Allied Domecq – 05/04/05
