Bright Food Group – a Shanghai-based food and dairy business – is in talks about acquiring Treasury Wine Estates, the Foster’s company which owns Penfolds, Beringer, Wolf Blass, Rosemount and other leading Australian brands, Decanter.com is reporting, quoting a Bloomberg news report.
“Bright Food is the leading food and dairy producer in Shanghai and has ambitions to become a leading global player in the food and beverage industry,” Decanter reported.
“Treasury was separated from the Foster’s brewing business in May this year. Foster’s rejected a AUS$2.7bn bid for the wine business last September, believed to be from private equity firm Cerberus Capital Management, saying that it ‘significantly undervalued’ the company.”
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