Wed, 06 May 2015 | BUSINESS SALE
Diageo is reportedly exploring a business sale of its wine division, which would include Sterling Vineyards and Blossom Hill.
The company, which is also behind big names such as Smirnoff and Guinness, has reportedly been witnessing growing levels of investor concern about its performance.
Sky News reported that a number of unidentified third parties have approached Diageo regarding the possibility of an acquisition.
A statement issued to the news agency read: “Diageo has a great wine business with great brands that are growing.
“We are sure there are many people who would love to own our wine business and we have received expressions of interest over the years. As you would expect we have a duty to consider any such interest carefully.”
The firm's wine brands only make up four per cent of the group's sales and are generally seen as a non-core section of its business.
The business was hit by a surprise fall in sales in the third quarter of 2014, which CEO Ivan Menezes attributed to “tough conditions in the emerging markets and subdued consumer demand in some developed markets”.
Sources have indicated that while a sale of the wine business might be useful for Diageo at this point if financial and other criteria aren't met the company will not feel compelled to go ahead with the sale of the business.
Read more about Diageo's earlier plans to dispose of its whisky businesses or view the latest businesses for sale.
Presenting an opportunity to acquire a very profitable plumbers and heating merchants business operation nationwide.
Presenting to the market a financially robust builders merchants business for sale, located in Merseyside.
A long-standing construction wholesale operation, freehold substantive site with three storey brick building.
26
|
Apr
|
Kent-based scientific consultancy sold to US firm | BUSINESS SALE
A4P Consulting Limited, a scientific consultancy company hea...
25
|
Apr
|
Ambulance services provider acquired in pre-pack deal | BUSINESS SALE
Elite Emergency Medical Services Ltd (Elite EMS), an ambulan...
25
|
Apr
|
Tile business old to management team by Norcros | MBO/MBI
Johnson Tiles UK, a tile business based in Stoke-on-Trent, h...
30
|
Oct
|
Tyrell's tycoon sells Chase Distillery | BUSINESS SALE
William Chase, the farmer behind Tyrell's crisps and Ch...
14
|
Oct
|
Diageo wine business sold | BUSINESS SALE
Diageo has negotiated a successful sale of its wine business...
02
|
Jul
|
Gleneagles Golf Club sold | BUSINESS SALE
Gleneagles Golf Club and Hotel has been sold to Ennismore, t...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.