CHAMP Private Equity acquires Constellation Brands' UK and Australian business
Leading world premium wine purveyor Constellation Brands Inc. announced just before Christmas that it had reached agreement with Sydney-based CHAMP Private Equity to sell its UK and Australian interests (Constellation Wines Australia & Europe – CWAE) to the latter for approximately $290 million. The vendor will receive some $230 million in cash and retain a 20% stake. All CWAE employees will transfer with the business.
"The CWAE business sells quality wines from the important Australian appellation and has significant scale," Constellation Brands' President & CEO Rob Sands commented, "but it continues to be faced with...
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