Australian Treasury Wine Estates buys Diageo wine | RetailDetail

Australian Treasury Wine Estates buys Diageo wine

Australian Treasury Wine Estates buys Diageo wine

Australian winery Treasury Wine Estates has acquired the British and North American wine activities from spirit manufacturer Diageo for a sum of 550 million dollars (480 million euro).

Diageo wants to focus on core

Treasury Wine is currently already one of the world's largest wineries, with brands like Wynns, Wolf Blass and Beringer. Now that it has acquired Diageo's wines (with brands like Sterling Vineyards, Moët & Chandon and Vignobles Internationaux), it wants to turn its attention to the higher echelons of the American market and double its American continent-based premium wine turnover.


The sale is the next step in Diageo's strategy to focus more on its "core business", which is liquor sales. Wine was only worth 4 % of the company's turnover, which also owns brands like Smirnoff and Captain Morgan.


Treasury wants to attract nearly 350 million dollars (300 million euro) from its shareholders in order to pay for most of the investment.

Questions or comments? Please feel free to contact the editors

C&A expands web shop to 11 new countries


Clothing chain C&A introduced another eleven countries to its web shop, instantly more than doubling the range of its online activities.

New Esprit CEO hails from New Look


Fashion chain Esprit will get a new CEO: Jose Manuel Martínez will leave the company and pass on the baton to Anders Kristiansen. New Look’s former CEO has to bring growth to Esprit, particularly through ambitious plans for China.

Dior exchanges Belgian CFO for British one


After eleven years as Dior Homme’s Chief Creative Officer, Belgian Kris Van Assche is to leave the fashion label to find new challenges. British designer Kim Jones will replace him.

Suitcase brand Rimowa cancels all dealer contracts


Suitcase brand Rimowa, part of luxury group LVMH since 2016, has stopped all of its dealer contracts. It wants to initiate a new procedure soon and only a fraction of the current dealers will get a new contract.

H&M disappoints once again


Swedish fashion chain Hennes & Mauritz had to present less than favourable results for its new fiscal year: investor trust has dwindled, now that sales in its home territory have also dropped for the first time in decades.

Bureau of Competition approves Yoox Net-a-Porter bid


The Italian Bureau of Competition has approved Swiss Richemont’s acquisition of Italian fashion webshop Yoox Net-a-Porter. The full bid, yet to be accepted, values the company at 2.7 billion euro.

Back to top