Treasury Wine Estates confirms it is in the middle of a bidding war

Treasury Wine Estates issued a statement to the Australian Securities Exchange saying a third global private equity firm has made a proposed bid for the struggling wine conglomerate to buy all outstanding shares for the price of $5.20 cash per share.

The Week That Was: top news, Q&As and opinion on Harpers.co.uk

In case you missed some of the headlines this week on harpers.co.uk, we have done a review of the top online news, financial news for the drinks trade, Q&As, and opinion stories.

Euromonitor finds alcoholic drinks not as price sensitive as trade believes

Euromonitor says the alcoholic drinks industry as a whole is far less price sensitive than the trade has come to believe. 

Panos Sarantopoulos takes charge of Rémy Cointreau's liqueurs and spirits division

Panos Sarantopoulos has been promoted to chief executive of Rémy Cointreau's liqueurs and spirits division after a successful time headling up Metaxa, the company's Greek spirit business.

The Week That Was: top news, Q&As and opinion on Harpers.co.uk

In case you missed some of the headlines this week on harpers.co.uk, we have done a review of the top online news, financial news for the drinks trade, Q&As, and opinion stories.

Diageo results: sales and profits slide but western Europe stabilises

Diageo released is year-end financial results ending on 30 June 2014 and show that net sales declined and operating profits took a big hit for the 2014 fiscal year.

Argentina's potential debt default could cause wine prices to fall

Argentina is on the brink of defaulting on debt payments for a second time in 13 years over a dispute with hedge fund investors - such a default could seriously damage the country's wine industry.

Chinese crackdown on gifting expected to hit Diageo's full year results

The crackdown in China on luxury products and gifting continues to hit major drinks players with Diageo expected to announce a further drop in sales in the country in its full year results this week including another hit on its premium baijiu brand, Shui Jing Fang.

The Week That Was: top news, Q&As and opinion on Harpers.co.uk

In case you missed some of the headlines this week on harpers.co.uk, we have done a review of the top online news, Q&As, and opinion stories.

Brown-Forman celebrates 2014 as one of the most successful years in its 144-year history

Brown-Forman shareholders celebrated yesterday the success of its 2014 financial results which it said was "one of the company's most successful years in its 144- year history."

LVMH's wine and spirits business drags down overall performance of luxury group

Louis Vutton Moët Hennessy (LVMH) stock price is taking a hit as financial markets react to the conglomerate's half yearly results announced at close of business yesterday. This morning the stock was trading 6.12% lower, down from yesertday's close €141.25 per share to €132.75 (Bloomberg).

CBI reports strong and growing retail sales figures

Further signs the economy is recovering come today with the latest CBI retail figures that show volumes have grown solidly in the year to July and that retailers expect future sales to be even stronger through the summer.

Rémy Cointreau still in decline after latest results released

Rémy Cointreau released its Q1 2014/2015 results today, reporting organic sales have slipped another 5.7% during Q1 ending on June 30, 2014 with the decline being driven by Remy Martin Cognac revenue continuing to fall another 15%.

Euromonitor: "UK will be the fastest growing major advanced economy in 2014"

It's good news for the wine and spirits trade as the UK is set to be the fastest growing major advanced economy in 2014, according to Euromonitor's mid-year global economy update, which should boost consumer spending.

Adrian Atkinson leaves his role as Pernod Ricard's wine development manager

Adrian Atkinson has left Pernod Ricard this week as part of a mini restructure of its commercial and marketing teams.

Naked Wines has 50% increase in number of Angels and 40% sales growth in 2013

Naked Wines released it financial performance results today for 2013 which includes a 40% increase in sales reaching £53 million driven by a 50% increase in the number of Angel investors.

The Smith report: the rise of Scotch as an alternative to fine wine investors

According to a new report by Rabobank released in June, Scotch whisky is currently going through a boom. But Scotch producers could learn a thing or two from the wine trade in that regulating the peaks and troughs of supply and demand is necessary to increase value over the long term. So could Scotch whisky now rival fine wine as an alternative investment?

Treasury Wine Estates appoints Coca-Cola exec to lead Asia and Europe

Tough fiscal year end closes for drinks industry's biggest players

There won't be many corks popping across the drinks industry this week as the summer marks what has been tough fiscal year for the sector dominated by a slowdown in growth in China.

Treasury changes Penfolds release dates as it writes down AU$260m

Treasury Wine Estates says 2015 will be a "reset year" as it writes down AU$260 million for 2014 and prepares to consolidate Penfolds' release dates to October to better manage allocations.