MELBOURNE: American wine and spirits company Constellation Brands Inc has confirmed that it is in “advanced takeover talks” with Australian vintner BRL Hardy, maker of Hardys and Banrock Station wines.
The news underscores the rapid growth of the Australian wine industry, which has increased exports almost nine-fold to about A$2.3bil over the last decade. The proposed acquisition – which could have an A$1.7bil price tag – would create the world’s largest wine business.
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