Australia’s biggest winemaker has warned investors its performance in markets heavily impacted by the pandemic is running behind expectations.
The Biden administration wants more competition in the US beer,wine and spirits sector and that lead to the shaking up of a structure that has been in existence since Prohibition ended in 1933.
Treasury Wine Estates boss Tim Ford has said he now feels back in control after a tumultuous year containing both the pandemic and shock Chinese wine tariffs.
The Californian rap star might not immediately seem like the safest bet for a brand ambassador to one of the world’s most prestigious wine companies. But the risk has paid off.
The winemaking giant will pivot to the US market and focus on its highly profitable Penfolds brand in a bid to restart profit growth without the help of the lucrative Chinese market.
Major local shareholders in winemaking giant Treasury Wine Estates have it is likely the business could be subject to a takeover offer in the coming months.
Treasury Wine Estates has announced it will license $100 million worth of its US brands to major US wine producer The Wine Group.
Winemaking giant Treasury Wine Estates has cancelled a potential demerger of its high-end wine brand Penfolds.
Major fund manager VanEck has backed winemaker Treasury Wine’s decision to keep upmarket label Penfolds within its stable.
At least 60 countries count China as their number-one trading partner and they're all keen to fill the void left by the trade bans on Australia.
Australian winemakers remain positive about the prospect of channelling their drops into growing markets such as Thailand and Vietnam.