Australian wine company BRL Hardy Limited (BRL) announced today that it is in advanced discussions regarding a possible merger with major beverage alcohol company, Constellation Brands, Inc of the US. Constellation Brands, Inc is listed on the New York Stock Exchange and is one of the world's leading producers and marketers of beverage alcohol brands with a broad portfolio of wines, spirits and imported beers.
BRL Hardy and Constellation Brands already have a successful 50/50 US joint venture, Pacific Wine Partners, which has achieved outstanding results in only its first year of operation. Mr Stephen Millar, BRL Hardy's Managing Director, said: "The Wine operations of both BRL Hardy and Constellation Brands have, in their own right, achieved outstanding growth over the past decade." "If an agreement is reached, the combined BRL Hardy and Constellation wine operations will create the world's largest wine business with leadership positions in the world's key markets, and annual wine sales of around AUD $3 billion," he said.
"The Australian Stock Exchange and BRL Hardy shareholders will be kept informed of further developments as they occur."
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