It could easily be bought out at this price and taken over....

It could easily be bought out at this price and taken over. Watching for any aromatic footprints which indicative of this when she opens up.

It is definitely "on the nose" although it did establish a war chest in 2004 raising over $23 million in fresh capital. Remember Constellation's move on Robert Mondavi - this is no XAN. ETW has been consistently proftable over the years although it was 80c in mid 2003.

Never held but I am now looking even more closely as an interesting speculative hold in the wine sector. Southcorp may be okay on a dip but margins may be very profitable if ETW and Frank Tate can get a decent price.