The deal? involv?es the sale of assests in Constellation’s Australian and UK-based wine operations to Australian Vintage, in return for a minority stake in the McGuigan and Nepenthe wine producer?.
But it could fall through if “a number of material issues” aren’t resolved, chairman Ian Ferrier said at last week’s annual general meeting.
“There is no guarantee discussions will result in a deal and the board will only pursue it if we can see long?-term? benefits for Australian Vintage,” he said.
Australian producers must to do more to promote single?-varietal wines in the UK, added Australian Vintage’s general manager Paul Schaafsma.
“We’re not taking the next step and capitalising on a straight variet?y,” he said.
Semillon is an ideal grape to represent a generic white Aussie style because “it doesn’t have the stigma of Riesling?”, according to Schaafsma.