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BUSINESS
August 29, 2000 | MELINDA FULMER, TIMES STAFF WRITER
Signaling the start of what could be major consolidation in the premium-wine business, Australia's largest brewer, Melbourne-based Foster's Brewing Group Ltd., has agreed to buy Beringer Wine Estates Holdings Inc. of Napa, Calif., for $1.5 billion in cash and the assumption of debt. It would be the largest marriage, so far, in California's rapidly growing wine industry, which, faced with static domestic consumption and a swelling supply of grapes, is seeking to tap new international markets.
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BUSINESS
March 9, 2005 | From Associated Press
Australian winemaker Southcorp Ltd. proposed a merger with global brewing giant Foster's Group Ltd. on Tuesday in hopes of staving off a hostile takeover bid from Foster's -- an offer that Foster's quickly rejected. Foster's, also based in Australia, said it was standing by its takeover offer to create one of the world's largest wine companies, saying it remained the best option for shareholders of both companies.
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BUSINESS
January 17, 2005 | From Bloomberg News
Foster's Group Ltd., Australia's biggest brewer and winemaker, today offered $1.9 billion for the rest of rival Southcorp Ltd. to gain control of top-selling Australian wine brands such as Penfolds and Rosemount. The offer by the Melbourne-based company represents the same share price it paid last week to the family interests of Robert Oatley, Rosemount's founder, for an 18.8% stake. Southcorp, based in Sydney, rejected the buyout offer as "inadequate and opportunistic."
BUSINESS
January 18, 2005 | From Bloomberg News
Foster's Group Ltd.'s 3.1- billion-Australian-dollar ($2.4-billion) hostile bid for Southcorp Ltd. is a "mistake" because it's paying too much to buy a company that's recovering from a record loss, while trying to boost earnings at its own wine unit, brokers including Merrill Lynch & Co. said. Foster's offer for Southcorp is "a poor decision, and we believe that the takeover bid isn't in the best interests of shareholders," said David Errington, an analyst with Merrill Lynch in Sydney.
BUSINESS
June 8, 2004 | From Bloomberg News
Foster's Group Ltd., Australia's biggest winemaker, will write down the value of its wine unit by as much as $212 million as a glut in California prompts competitors to cut prices to as low as $1.99 a bottle. The company will cut costs at its Beringer Blass wine business, Melbourne-based Foster's said. About half the cost savings will be invested on marketing brands such as Meridian, Wolf Blass and Yellowglen to help combat the emergence of so called extreme-value labels.
BUSINESS
December 11, 1995 | Times Staff and Wire Reports
Foster's Seeks Wine Company: Foster's Brewing Group Ltd., Australia's largest brewer, said it will make a $355-million takeover bid for wine producer Mildara Blass Ltd. Foster's said the bid will be conditional on its becoming entitled to 90% of Mildara's shares. Melbourne-based Mildara, which has subsidiaries in the U.S. and New Zealand, said it will seek independent advice on the bid.
BUSINESS
March 9, 2005 | From Associated Press
Australian winemaker Southcorp Ltd. proposed a merger with global brewing giant Foster's Group Ltd. on Tuesday in hopes of staving off a hostile takeover bid from Foster's -- an offer that Foster's quickly rejected. Foster's, also based in Australia, said it was standing by its takeover offer to create one of the world's largest wine companies, saying it remained the best option for shareholders of both companies.
BUSINESS
January 18, 2005 | From Bloomberg News
Foster's Group Ltd.'s 3.1- billion-Australian-dollar ($2.4-billion) hostile bid for Southcorp Ltd. is a "mistake" because it's paying too much to buy a company that's recovering from a record loss, while trying to boost earnings at its own wine unit, brokers including Merrill Lynch & Co. said. Foster's offer for Southcorp is "a poor decision, and we believe that the takeover bid isn't in the best interests of shareholders," said David Errington, an analyst with Merrill Lynch in Sydney.
BUSINESS
July 16, 2002 | Bloomberg News
Foster's Group Ltd.'s Beringer Blass unit said its Etude wine business has agreed to buy a winemaking site in Napa Valley to produce Pinot Noir and Cabernet varietal wines. The price wasn't disclosed. The site in the Carneros region of Napa County includes 40,000 square feet of buildings and a 10-acre vineyard, Beringer said. Etude expects the site to be operating as a winery no later than the first quarter of fiscal 2004. The transaction is expected to close in August.
BUSINESS
November 1, 1999 | Bloomberg News
Foster's Brewing Group Ltd., Australia's No. 1 brewer, might announce today that it seeks to buy Seagram Co.'s wine and spirits business in Australia and New Zealand. Melbourne-based Foster's, which makes beer and wine, will today bid $64 million for the Seagram operations, the Nine Network's Business Sunday program said without citing sources. Foster's declined to comment.
BUSINESS
January 17, 2005 | From Bloomberg News
Foster's Group Ltd., Australia's biggest brewer and winemaker, today offered $1.9 billion for the rest of rival Southcorp Ltd. to gain control of top-selling Australian wine brands such as Penfolds and Rosemount. The offer by the Melbourne-based company represents the same share price it paid last week to the family interests of Robert Oatley, Rosemount's founder, for an 18.8% stake. Southcorp, based in Sydney, rejected the buyout offer as "inadequate and opportunistic."
BUSINESS
June 8, 2004 | From Bloomberg News
Foster's Group Ltd., Australia's biggest winemaker, will write down the value of its wine unit by as much as $212 million as a glut in California prompts competitors to cut prices to as low as $1.99 a bottle. The company will cut costs at its Beringer Blass wine business, Melbourne-based Foster's said. About half the cost savings will be invested on marketing brands such as Meridian, Wolf Blass and Yellowglen to help combat the emergence of so called extreme-value labels.
BUSINESS
July 16, 2002 | Bloomberg News
Foster's Group Ltd.'s Beringer Blass unit said its Etude wine business has agreed to buy a winemaking site in Napa Valley to produce Pinot Noir and Cabernet varietal wines. The price wasn't disclosed. The site in the Carneros region of Napa County includes 40,000 square feet of buildings and a 10-acre vineyard, Beringer said. Etude expects the site to be operating as a winery no later than the first quarter of fiscal 2004. The transaction is expected to close in August.
BUSINESS
August 29, 2000 | MELINDA FULMER, TIMES STAFF WRITER
Signaling the start of what could be major consolidation in the premium-wine business, Australia's largest brewer, Melbourne-based Foster's Brewing Group Ltd., has agreed to buy Beringer Wine Estates Holdings Inc. of Napa, Calif., for $1.5 billion in cash and the assumption of debt. It would be the largest marriage, so far, in California's rapidly growing wine industry, which, faced with static domestic consumption and a swelling supply of grapes, is seeking to tap new international markets.
BUSINESS
November 1, 1999 | Bloomberg News
Foster's Brewing Group Ltd., Australia's No. 1 brewer, might announce today that it seeks to buy Seagram Co.'s wine and spirits business in Australia and New Zealand. Melbourne-based Foster's, which makes beer and wine, will today bid $64 million for the Seagram operations, the Nine Network's Business Sunday program said without citing sources. Foster's declined to comment.
BUSINESS
December 11, 1995 | Times Staff and Wire Reports
Foster's Seeks Wine Company: Foster's Brewing Group Ltd., Australia's largest brewer, said it will make a $355-million takeover bid for wine producer Mildara Blass Ltd. Foster's said the bid will be conditional on its becoming entitled to 90% of Mildara's shares. Melbourne-based Mildara, which has subsidiaries in the U.S. and New Zealand, said it will seek independent advice on the bid.
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