wine and spirits company Brown-Forman is reportedly planning to consider second-round bids for the Whyte & Mackay whisky business, a move that could get around £350m.Indian alcoholic beverages company United Spirits plans to sell its UK-based unit Whyte and Mackay to allay anti-trust concerns raised over the takeover by global liquor giant Diageo.
Diageo, which had acquired a 25.02% controlling stake in United Spirits, has decided to offload a majority stake in Whyte and Mackay, in response to the regulator's concerns that Diageo's acquisition may have impact on UK whiskey prices.
Lion Capital, a British private equity firm, is also expected to participate in the second round of bidding, besides other companies, including SPI Group, Italy-based Campari and TPG Capital Management.
Brown-Forman also intends to purchase French cognac maker Remy Cointreau.
Brown-Forman manufactures, bottles, imports, exports, markets, and sells alcoholic beverages. It provides whiskey, ready-to-drink products, vodka, tequilas, champagnes, wines, liqueur, and other distilled spirits.
