The Beringer Blass Wine Estates Corporation was created by the $1.5 billion purchase of U.S. based Beringer Wines Estates by Australia based Fosteru27s Brewing Group. Each firm, operating independently up to the time of their deal, had expanded in their industries through both internal growth via development of premium wine brands and external growth via acquisitions of new brands. In September, 2002, Walt Klenz, President of the wine operations of the firm, privately contemplated how to guide Beringer Blass towards its strategic goals in an industry that was rapidly consolidating on a global basis.
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