Fairfax 2026

[MMM20]

1 hour ago, rogermunibond said:

@MMM20 that's funny.  Ian Cumming and Joe Steinberg of Leucadia fame bought four wineries the first in 2000 iirc.  They opined in every shareholder letter about how bad they were as businesses but they liked wine and wine lubricated camaraderie.

 

Eventually they spun off the wineries in 2013 as Crimson Wine Group.  It's publically traded on the OTC but tiny and still a terrible business. lol

Honestly I was only half joking about the KW land redevelopment or Recipe synergies. Is there anything unique about this one? Are Canadians really loyal to it?
 

Scratching my head down here in the US as I’ve read for years about how volumes are struggling and even Napa and Sonoma wineries are closing left and right. And if Prem thinks it’s cyclical, why not buy STZ, TAP, BUD, DEO?
 

Edited 3 hours ago by MMM20

[rogermunibond]

Looking through the deal press release, seems like this is much more of a retail, distribution business.  101 store locations plus an importer business in addition to the wine and liqueur brands.

[hardcorevalue]

All I will say Fairfax often has many headscratching investments! 

If this wasn't in Canada, would they have bought it?

[mananainvesting]

4 minutes ago, hardcorevalue said:

All I will say Fairfax often has many headscratching investments! 

If this wasn't in Canada, would they have bought it?

Do you think they did the deal to help a Canadian Company? ex like how Blackberry investment likely was about saving a Canadian company (my guess)? or do you think they understand Canada better?

I think there is a lot of hidden value in Andrew Peller real estate portfolio that could be unearthed with Capital that Andrew Peller could not. 

[hardcorevalue]

Has the real estate angle been discussed any where, that would interest me more.

 

Although I don't think it worked out very well when they took that angle with ToysRus

[Duke In Shadows]

this narrative of Prem supposedly making capital allocation decisions for philanthropic reasons is tired.