Treasury Wine’s A$1.6b US deal aims at premium market
After coming to grief with cheap US wine the strategy is now around luxury brands.
The Daou brand will sit alongside Penfolds in the portfolio.
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Australia’s Treasury Wine Estates is adding to its assets in the US with a deal to buy premium California winemaker Daou Vineyards in a deal worth up to A$1.6b.
Treasury, the owner of global brands such as Penfolds and Wolf Blass, will pay A$1.43b upfront with an earn out agreement for Daou
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