The Boards of SabMiller and AB InBev have announced that they have reached an agreement on the key terms of a takeover offer. The ‘Possible Offer’ agrees to GBP 44.00 per share for SABMiller, representing a 50 per cent increase from SABMiller’s closing share price on 14 September 2015. The statement said that the Board of … Continued
Treasury Wine Estates (TWE) made public its intention to purchase Diageo’s wine operations in the US and UK today, Wednesday 14 October. The acquisition will include both US based Chateau and Estate Wines, as well as the Percy Fox business in the UK for $754 million. Media have been speculating for some months now as to … Continued
Diageo has sold its shareholding in Jamaican brewer Desnoes & Geddes Ltd. (D&G) and GAPL Pte Limited (GAPL) to Heineken for 20 per cent of the Guinness business in Ghana. The sale sees the spirits company’s shareholding in Guinness Ghana Breweries Limited (GGBL) increase to 72.42 per cent. As a result, Heineken has gained Diageo’s … Continued
Tobacco company Altria has urged the Board of brewer SABMiller to accept the latest takeover proposal from Anheuser-Busch InBev (AB InBev). AB InBev on Wednesday upped its cash offer for SABMiller to GBP 42.15 per ordinary share, with a partial share alternative. Altria, SABMiller’s biggest shareholder with a 27 per cent stake, subsequently issued a strongly worded statement … Continued
The NSW Office of Liquor, Gaming and Racing (OLGR) has closed Bondi Junction’s Liquorland for 14 days, after it was caught selling alcohol to minors. This is the first time a major supermarket chain has been closed for such an offence. Liquorland in Eastgate Shopping Centre was found selling alcohol to a 16 year old using … Continued
Merivale has announced that it will be unveiling eight new venues by February. Venues joining Merivale include the iconic Newport Arms Hotel, The Paddington, J&M, Queen Victoria Hotel, Fred’s, Sussex 1854, Wine bar, King Street and Chicken Shop. Justin Hemmes, Merivale CEO said: “This intense period of Merivale’s growth is such an exhilarating time for the group. It’s the excitement … Continued
SA-based family owned liquor retail group, Fassina Liquor is celebrating its 40th year of trading this week. The family’s first store was opened in 1975 by Italian migrant, Joe Fassina. Beginning as a bottling hall on the Somerton Park site, today the Fassina family operate 8 liquor stores around Australia. Three generations are now involved … Continued
Treasury Wine Estates (TWE) has announced its second phase of cuts to the business this year. Originally announced at TWE’s 2015 Full Year Results presentation in August, the cuts aim to reduce costs across the business’ supply chain. Since August, TWE has been busy implementing the first phase of its plans. Now moving into the second phase, the … Continued
For the first time in almost 20 years, the South Australian Government is currently reviewing the Liquor Licensing Act. Acting Premier, John Rau said the time is right for a review of the act. “The current legislation is the product of layer upon layer of amendments laying over the original act during the last 20 years.” … Continued
Victorian wholesaler Paramount Liquor has opened a new distribution warehouse in Sydney as it continues to expand its own exclusive portfolio of brands. Founder Mark Rowe told drinks bulletin the company’s new Sydney base is a 4000 square metre warehouse in Homebush Bay, allowing for turnover of between $150 million and $200 million worth of … Continued