French drinks giant Pernod Ricard rumoured to be mulling £5bn bid for Penfolds distributor Treasury Wine Estates
The owner of one of the most popular Australian wine brands sold in the UK could be about to fall into the hands of a French predator.
Speculation is mounting that Treasury Wine Estates, distributor of the Penfolds label, has been approached about a buyout that could value it at more than £5billion.
City sources say Pernod Ricard, France’s largest drinks maker, may be interested in some or all of Treasury Wine Estates, formerly owned by brewer Foster’s.
Treasury Wine Estates is…