Bemberg Rumored Buying Penaflor

Grupo Bemberg is rumored to be acquiring the 50% stake in Penaflor it does not already own, according to local press reports. El Argentino cites sources close to the company saying that Bemberg would like to close a deal by December. The Bemberg family used to own the Quinas brewing company, before it was acquired by InBev for $1.2bn in 2006. Bemberg bought half of Penaflor, an Argentinean wine maker, from DLJ Merchant Banking Partners in April for $300m. DLJ still owns the other half of the company. DLJ did not return calls for comment. Penaflor’s CEO, Eduardo Garcia, was unavailable for comment. According to the report, Penaflor had sales of $280m in 2009.