Ernest said to still be in charge, though Julio's granddaughter Gina has bulk of responsibilities, credited with pushing company into faster-growing premium wine markets.

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Globally the premium wine category has been expanding at more than 10% a year in volume, a handsome growth rate for the beverage industry.

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Big harvests in 2000 and 2001, bolstered by loads of new high-grade grapes such as Kuleto's, have increased the supply of premium wine and pushed out marginal, low-end producers.

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In the Hunter Valley 150 km (93 miles) north of Sydney, mid-January is harvest time in what has long been recognized as one of Australia's premium wine growing areas.

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As the vines have to struggle and stress as they extend the roots through the thin layer of terra rossa and the limestone to the water table, growth of the vine is limited to producing low yielding, intensely flavoured grapes, ideal for making premium wine.

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Constellation though saw an opportunity where others saw none and in 2003 launched the first premium box wine, Black Box.

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In his Budget speech on Wednesday, Gordon Brown announced the "premium package coolers" would no longer taxed like wine but would now be classed at the higher, spirits rate.

BBC: Alcopops hit as real ale boosted