Lawsuit Against Templeton Has "Strong Validity"
FILED SEPTEMBER 30, 2014 The Iowa attorney general has signed off on the class action lawsuit alleging that Templeton Rye deceived consumers. Under a 2009 state law that allows consumers to file class action lawsuits against companies for fraud, the attorney general is responsible for proving the lawsuit is not frivolous before it goes into the judiciary system - a law that is mostly a formality, re ports the Des Moines Register. Read More
TWE Puts the Kibosh on Acquisition Talks Before Formal Bid
FILED SEPTEMBER 29, 2014 Treasury Wine Estates pulled a fast one Monday when the company announced it had ended acquisition talks with its two private equity suitors. Reports out late last week said the Australian wine giant had all but handed over the keys to the kingdom to one of its bidders - Kohlberg Kravis & Roberts or TPG. Recall, both initially bid about $3 billion in order to get access to TWE's books. Read More
Winery CEOS Share Strategies for Current Challenges
FILED SEPTEMBER 26, 2014 Every year at the Wine Financial Symposium Robert Smiley, PhD, the director of wine studies at UC Davis, releases the results of a survey given to the ceos of leading wine and distribution companies to take their temperature on the state of the industry. This year, some of the participants included: Brian Vos from The Wine Group, Corey Beck from Francis Ford Coppola, Rick Tigner from Kendall Jackson, and Mel Dick from Southern Wine & Spirits, among many others. Read More
Wineries Deliberate on How to Bring Back the Excitement
FILED SEPTEMBER 24, 2014 Wine has historically been the category in which consumers place a high priority in history, authenticity and education, but in recent years craft spirits and craft beer have encroached on this image and wine is feeling the squeeze. As a result, one of the running themes of this year's Wine Financial Symposium was how to combat the rapid growth of these two categories. Read More
Major Brands and Diageo/Glazer Settle Out of Court
FILED SEPTEMBER 23, 2014 After just over a week in court, WSD has learned that Major Brands, Diageo and Glazer's Missouri have settled their dispute out of court with a "substantial payment made to Major Brands," per a statement from the company. Read More
TWE in "Final Steps" Before Entering Exclusive Talks
FILED SEPTEMBER 22, 2014 Recall, when Treasury Wine Estates agreed to let private equity groups KKR and TPG review its books earlier this summer, the Australian wine company emphasized there was "no certainty" an acquisition would be the result [see WSD 08-03-2014 ]. However, TWE is reportedly taking the "final steps" before making a decision to enter exclusive talks with one of its suitors, KKR or TPG as chief Mike Clarke has met with as many as 60 banking executives in Los Angeles, reports The Australian Financial Review. Read More
Another Round of Litigation Developments: Tito's, Beam and Luxco
FILED SEPTEMBER 19, 2014 September has turned out to be a contentious month in the craft spirits world. First, we reported on Balcones Distilling's internal power struggle [see WSD 09-04-2014]. Then just two days after we covered a class action lawsuit filed against Templeton Rye for fraud and unjust enrichment stemming from its misleading labels [see WSD 09-17-2014], WSD has learned that a similar lawsuit was filed against Fifth Generation, the company behind Tito's Handmade Vodka. Read More
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