Treasury Wine Estates
||This article needs to be updated. (February 2017)|
|Traded as||(ASX: TWE)|
|Headquarters||Southbank, Melbourne, Australia|
|Michael Clarke, CEO|
Wolf Blass Wines
Number of employees
Treasury Wine Estates is an Australian-based global winemaking and distribution business. It is headquartered in Southbank, Melbourne, Victoria, and until a demerger in May 2011, was the wine division of international brewing company Foster's Group.
Treasury Wine Estates traces its roots back to the establishment of several New World wineries in the 19th century. These include Lindeman's and Penfolds in Australia, and Beringer Vineyards in the United States.
Foster's began to build its wine division from 1995 onwards. Through acquisition, it built the division into one of the world's largest winemakers. By 2005, Beringer Blass was the seventh largest producer of wine in the United States. The same year, Fosters acquired the Australian wine-making group Southcorp, adding famous brands including Lindeman's, Penfolds and Rosemount, and around A$1 billion to revenues.
However, the wine division performed poorly, often draining cash from the highly profitable brewing business. In 2008, Foster's chief executive officer (CEO) Trevor O'Hoy resigned. By 2011, the company had written down the value of the wines division by half since it acquired it at the peak of the market, leaving it worth about A$3.1 billion.
After further difficulties in the division resulted in an additional A$1.3 billion write-down, 99 per cent of Fosters Group shareholders agreed at a meeting in Melbourne in April 2011 to split Fosters Group business into separate brewing and wine companies. Treasury Wine Estates officially became a separately listed company the following month, with David Dearie as its CEO. 
Further write-down of stock worth around A$160 million took place in 2013, followed by the redundancy of David Dearie and appointment of interim chief executive Warwick Every-Burns. This left the business in a more fragile state as shares dropped almost A$2 to just above A$4. Steamrollers crushed millions of bottles of cheap wine to dispose of excess stock. Treasury has since worked with Accolade Wines to promote bottling efficiency, strengthening its performance in Asia, Australia, New Zealand and Europe.
In 2015, Treasury reportedly began reducing its presence in the British market to concentrate on Asia, where margins were much higher. However, later that year Treasury bought the majority of the wine business of London-based multinational Diageo.
In July 2016 Treasury Wine Estates slimmed down its wine portfolio, announcing the sale of 12 cheap wine brands in the United States. The sale of the US brands represented around one million cases of wine.
By 2017, Treasury had begun stockpiling luxury wines and rationing their release in China and the United States. More money was spent marketing the most profitable brands.
The business is divided into four global regions: Australia and New Zealand; The Americas; Europe; and the Middle East, Africa and Asia. Globally the company manages over 12,000 hectares of vineyards with 3,500 employees in 12 countries, with sales in 2011 totalling over 35 million cases of wine annually, generating revenues of A$2 billion.
|Winery||Appellation/Region||Country||External link||Notes |
|Acacia Winery||Los Carneros||United States|||
|Annie's Lane||Clare Valley||Australia||||Previously named "Quelltaler". Other labels: Copper Trail.|
|Bailey's of Glenrowan||North-East Victoria||Australia|||
|Beaulieu Vineyard||Rutherford||United States|||
|Belcreme De Lys||Central Coast||United States|
|Beringer Vineyards||Napa Valley||United States||||The oldest continuously operating winery in the Napa Valley, founded 1876.
The winery is on the National Register of Historic Places as a Historic District.
|Blossom Hill||Central Coast||United States|||
|Castello di Gabbianno||Tuscany||Italy|||
|Chateau St. Jean||Sonoma Valley||United States|||
|Coldstream Hills||Yarra Valley||Australia|||
|Devil's Lair||Margaret River||Australia|||
|Etude||Los Carneros||United States|||
|Fifth Leg||Margaret River||Australia||||A label of the Devil's Lair winery.|
|Greg Norman Estates||(various)||(various)|||
|Heemskerk||Tasmania||Australia||||Other labels: Abel's Tempest, Georg Jensen |
|Hewitt Vineyard||Rutherford||United States|||
|Jamieson's Run||Limestone Coast||Australia|||
|Killawarra||"South Eastern Australia"||Australia||||Created by Seaview in 1971.|
|Leo Buring||Clare Valley &
|Lindeman's||Hunter Valley &
|Matua Valley Wines||Marlborough||New Zealand||||Other labels: Angel Cove|
|Meridian||Central Coast||United States|||
|Penfolds||Adelaide Hills &
|Provenance Vineyards||Rutherford||United States|||
|Rawson's Retreat||"South Eastern Australia"||Australia|||
|Rosemount Estate||McLaren Vale||Australia|||
|Run Riot||Central Coast||United States|||
|Secret Stone||Marlborough||New Zealand|||
|Shingle Peak||Marlborough||New Zealand|||
|Sledgehammer||Northern California & Mendoza||United States & Argentina|||
|Squealing Pig||New Zealand|||
|St Hubert's||Yarra Valley||Australia|||
|Stags' Leap Winery||Napa Valley||United States|||
|Stellina di Notte||Veneto||Italy|||
|Sterling Vineyards||Napa Valley||United States|||
|Wolf Blass||South Australia||Australia|||
|Yellowglen||"South Eastern Australia"||Australia|||
- T. Stevenson The Sotheby's Wine Encyclopedia Fourth Edition p. 468 Dorling Kindersly 2005 ISBN 0-7566-1324-8.
- Takeovers rarely work for shareholders, Michael West (10 June 2008) smh.com.au.
- "Foster's shareholders decide wine and beer don't mix". ABC News. 29 April 2011. Retrieved 29 April 2011.
- "Foster's Group Implements Treasury Wine Estates Demerger". Just Drinks. 23 May 2011. Retrieved 11 March 2016.
- Evans, Simon (26 February 2011). "History lessons for Treasury Wine Estate's California dream". The Australian Financial Review. Fairfax Media. Retrieved 28 February 2017.
- Evans, Simon (28 September 2015). "Paul Schaafsma the new boss in Accolade Wines reshuffle". The Sydney Morning Herald. Fairfax Media. Retrieved 8 December 2016.
- "Treasury Wine Estates dumps cheaper US brands". ABC Rural. 3 July 2016. Retrieved 2 Nov 2016.
- "About Us". Treasury Wine Estates. Retrieved 29 April 2011.
- "Our brands". Treasury Wine Estates. Retrieved 6 December 2016.
- Annie's Lane
- Beringer Vineyards
- Matua Valley Wines