Treasury Wine Estates
Treasury Wine Estates is an Australian-based global winemaking and distribution business. It owns over 80 brands including Penfolds, which it established in the mid-1840s and Beringer Vineyards which it founded in 1876.
According to the TWE website, the company has 11,000 hectares of vineyards, sales of 32 million cases of wine annually, and revenues of about AU$1.7 billion. It employs more than 3,500 winemakers, viticulturists, sales, distribution and support staff across 16 countries.
TWE is currently facing financial difficulties after reporting a 50% slump in annual net profits, amid a warning that its US business must http://www.decanter.com/news/wine-news/584162/treasury-to-destroy-large-amounts-of-old-and-aged-wine-in-us">destroy AUD35m of old and aged wine that it cannot sell.
Treasury’s former chief executive David Dearie has also abruptly exited the company prompting tough questioning from analysts about the group’s struggling US wine business.