Australia: Treasury Wine Estates divests non-core US brands
Treasury Wine Estates, the Australian-based wine group, has announced that it has divested 12 non-core brands within its US portfolio. The firm, which owns Wolf Blass and Blossom Hill, said that the brands were sold at approximately book value and represented around one million cases of non-core Commercial wine. The name of the buyer was […]
Australia: Diageo sells wine business to Treasury Wine Estates
Australian wine giant Treasury Wine Estates has announced that it is to acquire the majority of assets from Diageo’s wine operations in the UK and the USA in a cash deal worth $600 million. As a result of the acquistion, the company behind brands such as Penfolds, Rosemount Estate and Wolf Blass will now also add Blossom […]
Australia: Treasury Wines rejects takeover bid
Treasury Wine Estates Limited (Treasury Wines), the Australian winemaker, has reportedly rejected a takeover bid of $4.70 cash per share from US company Kohlberg Kravis Roberts & Co. L.P. (KKR), claiming that the offer did not reflect the true value of the company. According to Australian Food News, Treasury Wines said that KKR had requested […]