Treasury Wine Estates

treasury

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.

Australia producers, Penfolds

Penfolds owner Treasury sees takeover bids collapse

29th September 2014

Takeover offers valuing Treasury Wine Estates at A$3.2bn have collapsed, leaving the Penfolds and Wolf Blass owner's current leadership to find a way to improve financial results.

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Dearie

Treasury Wine Estates facing lawsuit over US charges

28th October 2013

Treasury Wine Estates has been accused of misleading shareholders by not warning them early enough of its plan to spend millions of dollars to destroy excess wine in the US.

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dearie

Treasury Wine Estates and the two faces of Australian wine

24th September 2013

David Dearie's departure from Treasury Wine Estates is a reminder that the Australian wine industry is still working through serious challenges, despite newfound acclaim.

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Dearie

Treasury Wine Estates under pressure as chief leaves

23rd September 2013

Treasury Wine Estates has announced the abrupt exit of its chief executive, prompting more tough questioning from analysts about the group’s struggling US wine business.

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Penfolds

Destroying wine in US hits Treasury profits

26th August 2013

Profits at Australia's Treasury Wine Estates (TWE) more than halved in the past year, due in part to the company's decision to destroy large amounts of wine in the US.

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Penfolds

Treasury to destroy large amounts of 'old and aged' wine in US

16th July 2013

Penfolds, Beringer and Lindemans owner Treasury Wine Estates (TWE) is planning to destroy large amounts of wine in the US after shipments fell by up to 2m cases.

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Penfolds icons

Penfolds Icons released and on market for hefty discount

3rd May 2013

Buyers have reacted positively to the release of Penfolds' latest batch of top wines – despite the distractions of a bumper day of Bordeaux en primeur releases.

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Treasury wine estates

Treasury in takeover bid speculation

23rd January 2013

Speculation is growing that Penfold's and Wolf Blass owner Treasury Wine Estates could be a takeover target, with a rumoured price tag as high as A$4bn-plus.

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Treasury wine estates

Treasury points to 'Mother Nature' as earnings drop

24th October 2012

Former Foster's wine business Treasury Wine Estates blamed a poor 2011 vintage for an expected 20% reduction in earnings in the first half of the company's financial year.

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Grange 2006

Treasury seeks to upgrade US, Asia operations

26th July 2012

A year after splitting from Foster's, Treasury Wine Estates' new chairman has confirmed the company’s strategy to focus on upgrading its business in Asia and the United States.

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wolf blass

Accolade jobs loss in deal with Treasury Wine Estates

24th July 2012

Accolade Wines in Australia has shed 175 jobs as it moves its bottling operation to Treasury Wine Estates in a historic deal with its major rival.

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packer

Gaming billionaire ups stake in Treasury Wine Estates

21st February 2012

Casino and gaming billionaire James Packer has increased his stake in the world's second largest wine producer, Treasury Wine Estates.

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Wolf Blass Black Label

Treasury 'best thing that's happened' to Wolf Blass

12th October 2011

Premium Australian producer Wolf Blass will drive to promote its icon wines under its new owner Treasury Wine Estates.

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Penfolds

Treasury cites 'deep discounting' break for sales drop

22nd September 2011

Treasury Wine Estates, the wine division of brewing giant Foster's, has reported a fall in sales volumes in its first year as a standalone operation.

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Penfolds_Kalimna_Vineyard_Barossa.

Chinese buyer eyes Penfolds, Rosemount group

4th July 2011

Leading Australian wine brands including Penfolds, Rosemount and Lindemans could soon be under Chinese ownership, according to media reports.

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