Business
Treasury Wines cans Penfolds demerger, looks to sell off US brands – Sydney Morning Herald
Winemaking giant Treasury Wine Estates has cancelled a potential demerger of its high-end wine brand Penfolds.
The divestments of some lower-end brands will trim some of the fat out of Treasurys US business, which it is hoping to premiumise and potentially use as a new avenue to sell high-end wine into China to offset the impact of 169 per cent tariffs on the lucrative market announced last year.
On Wednesday Treasury unveiled a high-end range of wines that have been grown in California over the past 20 years, with the top wine priced at $950, the same as Penfolds famed Grange.
Penfolds new California collection…
-
Noosa News24 hours agoBroncos’ Adam Reynolds confident of NRL finals return, Raiders’ Josh Papalii injured
-
Noosa News22 hours agoPremier David Crisafulli says there’s ‘no place in a modern Queensland for the CFMEU’
-
Noosa News24 hours agoPolice officer charged with drink driving to appear in Noosa court
-
Noosa News24 hours agoState care system’s missing kids