The board like it, management likes it, the organisation likes it – everyone’s getting behind the different component parts of the turnaround,” he added. I think it’s definitely doable, and is very focused,” Clarke said. “We’ve laid out a fabulous roadmap and journey for the turnaround of this company. “But I think there could be opportunities to even accelerate the revenues – and get revenue synergies as well as cost synergies, if we do something in North America – inorganic growth could mean acquisitions, an alliance – it could take a number of different forms.”Ĭlarke confirms wish to stay on after any takeoverĬlarke also insisted that he was keen to stay on as CEO if TWE was taken over both KKR/Rhone Capital and an anonymous bidder have made $3.2bn proposals to take over the troubled firm. TWE now has access to more liquid, which will help it push brands including Beringer and Stag’s Leap in fiscal 2015, Clarke said, with the Luxury category the fastest-growing in North America. There’s been a limit on the amount of liquid we’ve had access to further grow the business beyond what we’ve achieve in fiscal 2014,” he added. “We’re doing an outstanding job growing that part of the business. I’m just wondering what kind of asset you’d be after – and what sort of multiple you’d be prepared to pay?”Ĭlarke said that TWE had to be explicit on its strategic direction in light of two takeover bids, adding: “We believe there is an opportunity to accelerate our growth, especially the areas of masstige and luxury propositions in North America. Gino Rossi, an analyst as Citigroup told Clarke: “It sounds like you’re targeting some kind of acquisition in the US. TWE wants to accelerate US growth in masstige and luxuryĬEO Michael Clarke told investors that TWE saw the brightest growth prospects in Australia (value growth without chasing volume), the US and North Asia (both volume and value growth). The company reported its full year 2014 results yesterday with net profit down 20.4% to AUD $112.8m, while nine-liter case sales fell 6.4% to 30m net sales rose 1% to AUD $1.7bn.īut a post-tax write down of AUD $280.6m (reflecting a July 2013 decision to destroy old and outdated US stock that also led to a shareholder-led class action) meant the firm lost AUD $100.9m.ĭespite EBITS down 7% to AUD $74.9m in the Americas, TWE said its Masstige (‘prestige for the masses’) and Luxury depletions (volume movements for distributors to retailers) grew 15% and 3% respectively. Packaging & Packing Materials, Containers.Processing Equipment & Systems, Automation, Control.Filling & Packaging Equipment & Systems.
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