Fosters Wine Business Now Known As Treasury Wine Estates
July 21, 2010 – 9:03 pm
Managed as four regional businesses in Australia and New Zealand, The Americas, Europe, Middle East & Africa and Asia. Treasury Wine Estates will become the new identity for the Foster’s Group Limited global wine business. Bringing together 12,000 hectares of vineyards, 20 wineries and 50 wine brands, Treasury Wine Estates will have some of the most popular and collected wines from Australia, California, France, Italy and New Zealand under its umbrella. With sales totalling over 35 million cases of wine annually, and revenues of over AU$2 billion Treasury Wine Estates employs over 4,000 winemakers, viticulturists, sales, distribution and support staff across in 12 countries.
From the establishment of Australia’s Penfolds in the mid 1840s to the 1876 founding of Beringer Vineyards, a winemaking legacy has been created. The Treasury Wine Estates portfolio includes iconic brands such as Beringer, Penfolds, Lindemans, Chateau St. Jean, Wolf Blass, Rosemount, Matua Valley, Wynns Coonawarrra Estate and Castello di Gabbiano. These international favourites sit alongside regional champions that include California’s Stags’ Leap, St Clement and Etude and Australia’s Seppelt, Coldstream Hills, and Devil’s Lair.
Announcing the new identity, Foster’s Chief Executive Officer, Ian Johnston said:
“Today is a significant day for the brands and people that make up Treasury Wine Estates.
“Since the acquisition of Mildara Blass and Rothbury Wines Limited in 1996, Beringer Wine Estates in 2001 and Southcorp Limited in 2005, we’ve assembled one of the world’s great wine businesses.
“The creation of Treasury Wine Estates marks the next natural step in that journey, accelerating a cultural change and business transformation that began with the completion of the Wine Strategic Review in February 2009.
“With six of the ten most collected wines in Australia, America’s leading premium brand in Beringer Vineyards, and a collection of outstanding international wines, this is a business with impeccable credentials.
“The new name and brand identity reflect the wealth of treasured wine brands that mark the core of this business.
“Treasury Wine Estates will harness the essence of great winemaking, with a focus on building company and shareholder value as creator and purveyor of quality wines in Australia, California and around the world.
“The announcement today does not pre-empt any outcome for our demerger, nor does it represent fundamental change in our business model. It does, however, represent the acceleration of a cultural change for those of us working in the wine business as we return to a dedicated focus on viticulture, wine making and the marketing and sale of one of the world’s most outstanding portfolios.”
You can find more information about Treasury Wines Estates at their website.
