Ann: Rapid Insights, page-12

I have looked at UMG... but am more interested in direct exposure rather than growth by affiliation

Of note for GDA - I believe near term they have fulfilled their CAPEX requirements - only using 50% of capacity target and are now focusing on increasing own brand volume and brew pub concepts to further enhance brand awareness... CAPEX growth was borne by equity issues, lots of them - but should not be an issue for a few years now at least.

I held wine many years ago (pre GFC)... but haven't revisited since due to the issues around global supply / demand.