Second fund turns big wine takeover into bidding war
Another US private equity group has emerged as a rival bidder for Australia’s largest wine company.
Treasury Wines Estates – split off from Foster’s Group in 2011 – already has a $A5.20 a conditional share offer from KKR and Rhome Group, which are doing due diligence.
That bid values Treasury at nearly $A3.4 billion.
Yesterday the company announced it had another indicative, non-binding and conditional proposal from an unnamed fund at the same price.