The Australian wine group cut customer inventories in China by 200,000 cases, but distributors offered a more cautious assessment of underlying demand.
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DAOU Vineyards
The Penfolds owner freezes its shares ahead of a crucial market update, following a A$687 million U.S. impairment and weakening demand in China.
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Treasury Wine Estates’ shares fell to their lowest level in a decade last week after the company announced a A$687 million write-down on its U.S. operations. Read More
Treasury Wine Estates says its entire A$687 million U.S. goodwill is likely worthless — a stark sign of how sharply America’s wine market has cooled. Read More
However, TWE’s performance will depend on the economic environment and geopolitical dynamics in key markets, including China. Read More
A senior executive at Treasury Wine Estates in the United States has been slapped with a restraining order filed by a Napa Valley politician following her allegation that the politician is a child abuser. Read More
In a landmark deal potentially valued at US$1 billion, Australian wine giant Treasury Wine Estates (TWE) has announced its acquisition of California's DAOU Vineyards. Read More