Brl Hardy Ltd

Constellation Brands Inc. said it plans to complete its $1.4-billion takeover of Australian winemaker BRL Hardy Ltd. this week, making it the world's biggest wine company, surpassing E. & J. Gallo Winery of Modesto, Calif. Fairport, N.Y.-based Constellation is seeking to tap growing demand in Europe and the U.S. for BRL wines such as Banrock Station and Stamp of Australia. The transaction is scheduled to be completed Wednesday.

Constellation Brands Inc. said it plans to complete its $1.4-billion takeover of Australian winemaker BRL Hardy Ltd. this week, making it the world's biggest wine company, surpassing E. & J. Gallo Winery of Modesto, Calif. Fairport, N.Y.-based Constellation is seeking to tap growing demand in Europe and the U.S. for BRL wines such as Banrock Station and Stamp of Australia. The transaction is scheduled to be completed Wednesday.

Constellation Brands Inc. of Fairport, N.Y., uncorked a deal Friday to buy Australian winemaker BRL Hardy Ltd. for $1.1 billion, which if completed would knock vintner E. & J. Gallo Winery of Modesto from its perch as the world's largest winemaker by sales. The transaction would give Constellation -- which markets wines such as Ravenswood, a premium California brand -- a bigger share of Australia's rocketing wine exports.

Constellation Brands Inc. of Fairport, N.Y., uncorked a deal Friday to buy Australian winemaker BRL Hardy Ltd. for $1.1 billion, which if completed would knock vintner E. & J. Gallo Winery of Modesto from its perch as the world's largest winemaker by sales. The transaction would give Constellation -- which markets wines such as Ravenswood, a premium California brand -- a bigger share of Australia's rocketing wine exports.

Winemaker Constellation Brands Inc. said its fiscal first-quarter earnings climbed 4.9%, boosted by higher beer sales and the acquisition of Australian vintner BRL Hardy Ltd. Net income rose to $39.2 million, or 41 cents a share, from $37.4 million, or 40 cents, a year earlier. Sales in the quarter ended May 31 rose 19% to $771.6 million, the Fairport, N.Y.-based company said. Constellation shares fell 65 cents to $30.75 on the NYSE. Results were released after the close of U.S. markets.

Kendall-Jackson Wine Estates Ltd. launched an Australian wine brand to take advantage of an increase in demand for the nation's wine in the U.S., the Australia Financial Review reported. The Sonoma Valley winemaker has pre-sold 75,000 cases of its new Yangarra Park red and white wines, the newspaper said. Kendall-Jackson doesn't plan to acquire any Australian wine businesses after withdrawing its own assets from sale two months ago, the report said. The Santa Rosa, Calif.

Constellation Brands Inc., the world's biggest wine company, said Thursday that its fiscal second-quarter profit edged up 2.3%, lifted by higher sales of wine and its December acquisition of Robert Mondavi Corp. Net income grew to $79.97 million, or 34 cents a share, after preferred dividend payments in the three months ended Aug. 31, compared with $78.16 million, or 35 cents, a year earlier. Excluding one-time items, earnings were $98.1 million, or 41 cents a share.

Two of Europe's leading wine producers announced a strategic partnership Wednesday to take on U.S. and Australian competitors in a global battle for emerging markets. The pact, which falls short of a full merger, brings together Italy's largest producer, Caviro, and Groupe Val d'Orbieu, France's second-largest winemaker. The alliance will cooperate in such areas as research and development, transportation and marketing, and will lobby to defend the interests of producers.

Constellation Brands Inc., the world's largest winemaker, said Thursday that its fourth-quarter profit fell 24% on costs related to its purchase of Napa, Calif., vintner Robert Mondavi Corp. The company raised its profit forecast for its fiscal year. Net income fell to $47.6 million, or 40 cents a share, from $62.8 million, or 55 cents, a year earlier, Fairport, N.Y.-based Constellation said. Sales in its quarter ended Feb. 28 rose to 17% to $1.

Former Hewlett-Packard chief Lew Platt is ending his short second career at Kendall-Jackson Wine Estates as founder Jess Jackson has decided to take the company off the market. Platt, 60, was hired in January 2000 as chief executive to restructure the Santa Rosa, Calif.-based firm, one of the largest wineries in the country, and get it ready for a public offering or sale to a large international company that could further its global expansion plans.

A vintner from Down Under may be close to putting Constellation Brands Inc. on top, unseating E. & J. Gallo Winery of Modesto as the world's largest wine company. Constellation, based in Fairport, N.Y., said Monday that it is in talks to acquire top Australian wine producer BRL Hardy Ltd. but didn't disclose terms. If the deal is completed, Constellation would become No. 1, with about $1.7 billion in annual wine sales, eclipsing Gallo's $1.4 billion.