Constellation Brands bought ASX-listed BRL Hardy for $1.9 billion in 2003 but suffered recent write-downs and staff redundancies as the industry hit a grape oversupply and falling export sales, particularly in the competitive UK market. The US company booked a $900 million impairment charge on its Australian and British assets in 2008. Australian media recently speculated that US-based private equity firm Cerebrus, which also had been reportedly eyeing Foster's Group's Treasury Wine Estates, was a front-runner to buy Constellation Wines' assets. However, Chinese-owned interests are also widely rumoured to be keen buyers. With PerthNow Staff Writers.