Wine Never Cheaper as Bidders Circle Foster’s Spinoff: Real M&A

Wine Never Cheaper as Bidders Circle Foster’s Spinoff: Real M&A

6
(Bloomberg) -- Buying Napa Valley wine has never been so cheap with Treasury Wine Estates Ltd. selling at less than 80 cents on the dollar. The world’s second-largest winemaker, which owns Beringer Vineyards and Stags’ Leap Winery, was spun off by Foster’s Group Ltd. in May after it rejected a private-equity buyout for the unit last year. Treasury Wine has gained less than 3 percent since the spinoff, giving it a market value of A$2.2 billion ($2.4 billion). That’s 23 percent less than the Melbourne-based company’s net assets, the biggest discount among makers of wine or spirits, according to data compiled by Bloomberg.


Comments

Post Comment

Your email address will not be published. Required fields are marked *

Security verification code

Newsletter

Be informed, subscribe for our weekly newsletter.

/ Back to Top