Coca-Cola CEO snubs wine for beer
Coca-Cola CEO snubs wine for beer
Feb 14, 2013 6
(TheDrinksBusiness) - Coca-Cola Amatil chief executive Terry Davis has made it clear that the Sydney-based drinks company has no intention of making a bid for Treasury Wine Estates. Speaking to The Australian, Davis, who ran Foster’s wine business before joining CCA, said he has no interest in buying TWA, the former Foster’s wine division.
“Not in my lifetime. Having worked in the wine industry for such a long time, and seeing the capital intensity and long-term decision making that has to be made in the wine business, I don’t think it suits corporates,” he said.
“I think wine suits private equity firms that can take the good years and the bad years, but in corporate life you’re okay in the good years but out in the bad years,” he added.
Earlier this week, Darren Rathbone, chief executive of the Rathbone Wine Group, told db that there is a lot of dead weight within Treasury Wine Estates.
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