Hardy shareholders approve Constellation merge

Hardy shareholders approve Constellation merge News Wine News
  • Friday 21 March 2003

The AUS$1.9bn (€1bn) takeover of BRL Hardy by Constellation Wines was approved by Hardy shareholders today.

Once combined the new company will be the biggest winery of the world, knocking Californian behemoth E&J Gallo off the top spot.

And according to Constellation chief Richard Sands, the company will get even bigger.

'We`d anticipate doubling the size of the company over the next five years,' he told shareholders.

BRL Hardy's 17 wine brands include Banrock Station, Stonehaven, Nottage Hill, Hardys, and La Baume in France's Languedoc.

Constellation has Canandaigua wines, premium producer Franciscan Estates – which includes such wineries as Chile's Veramonte – UK wholesaler Matthew Clark, Stowells of Chelsea, Dry Blackthorn cider and a range of beers including Corona, Tsingtao, Tetley's bitter and Peroni.

The deal is expected to be closed in April after approval for the takeover is received from Australian authorities.

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