The maker of Penfolds, Treasury Wine Estates has entered the Chinese winemaking business, acquiring 75 percent of Ningxia Stone & Moon Winery Co. Ltd for RMB 130m (approximately A$27.5m). Located in the highly-regarded wine production region of Ningxia in north-western China, Stone & Moon’s asset base includes 43-hectares of planted luxury vineyards, a modern winery…
Penfolds maker Treasury Wine Estates (TWE) has secured a leading position in the US luxury wine market with a surprise US$900 million acquisition of US luxury wine business DAOU Vineyards. The purchase, which will be funded by an Au$825 million equity raising, brings the US’s fastest growing luxury brand into the TWE global stable which…
Treasury Wine Estates the maker of Penfolds has reported rising profits on steady revenues as its programme of premiumisation of its wine offerings and focus on luxury brands takes effect. The company reported sales revenues relatively steady at $2.4 billion for FY23, down 2.2 percent or 4.4 percent on a constant currency basis on the…