The Shout Magazine (New Zealand)

Treasury Wines to sell wineries

NZLN-TWE penfolds-cellar-420x0Treasury Wine Estates (TWE) has put four wineries up for sale, in a raft of major changes. The wine company’s packaging and warehousing facility at Karadoc near Mildura in Australia will be shut, while its Ryecroft, T’Gallant and Bailey’s properties in Australia are for sale along with a US winery. The moves are aimed at reducing its overhead cost base, with work at Karadoc to be transferred to the Wolf Blass facility in the Barossa, South Australia.

TWE is also restructuring its operations at a large bottling centre in the Napa Valley in California to extract more cost savings. TWE has more than 80 wine brands and it is believed the company will be focusing more on the top-end of the market, led by the flagship Penfolds brand.