FOSTER’S TO SELL SERVICES DIVISION
In an attempt to ward off any takeover bids, Foster’s Group is selling its two U.S. wine businesses, according to the Australian Financial Review and Reuters.
Information brochures are being sent to potential buyers in the U.S. regarding the California-based Windsor Vineyards direct mail operations and Texas-based International Wine Accessories. Initially, both businesses were purchased by Foster’s for about $64 million.
Foster’s CEO Trevor O’Hoy had announced in August that the company was planning to offload its $301 million wine clubs and services division to focus more on its wine portfolio – and perhaps as another way to dodge a takeover.
Information brochures are being sent to potential buyers in the U.S. regarding the California-based Windsor Vineyards direct mail operations and Texas-based International Wine Accessories. Initially, both businesses were purchased by Foster’s for about $64 million.
Foster’s CEO Trevor O’Hoy had announced in August that the company was planning to offload its $301 million wine clubs and services division to focus more on its wine portfolio – and perhaps as another way to dodge a takeover.
posted at 3:53 PM
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