Wine

SND: Treasury Wine Estates Buys Frank Family Vineyards, Expanding Napa Holdings

A single of the world’s premier wine organizations is obtaining a Napa Valley vineyard, using a different stage in including a lot more top quality wines to its U.S. portfolio. Treasury Wine Estates introduced yesterday a offer to obtain Frank Family Vineyards for $315 million. Frank Household is acknowledged for Chardonnay and also will make Cabernet Sauvignon, Pinot Noir and glowing wine. The business experienced internet revenue of $54 million in its most new fiscal calendar year. Once-a-year creation stands at 174,000 circumstances.

The offer involves the Frank Household tasting area in Calistoga, the Benjamin Winery in Rutherford, the S&ampJ Winery in Capell Valley, and a portfolio of wines with retail selling price details ranging from $38 to $225 for every bottle. Loaded and Leslie Frank will sustain the possession of Winston Hill Winery in Rutherford and the Lewis Winery in Carneros, but will continue on to promote grapes from those people vineyards to Frank Household. Winemaker and typical supervisor Todd Graff will continue to be with Frank Household Vineyards.

“The acquisition of Frank Household Vineyards signifies an remarkable addition to the Treasury Americas manufacturer portfolio and is a different crucial stage in direction of our ambition of getting to be the top quality wine current market chief in the Americas,” claimed Ben Dollard, president of Treasury Wine Estates Americas.

Treasury executives observed that the acquisition, coupled with other new moves these kinds of as its licensing of four.two million circumstances of reduced-priced wines to The Wine Team and sale of the previous Provenance vineyard to Significantly Niente, furthers its shift in the U.S. from low-priced value wines to more expensive premium brands. With this offer, Treasury claimed it will strengthen its share of the $20-and-up wine current market in the U.S. to seven p.c from five.three p.c. TWE’s other luxurious models incorporate Beaulieu Winery, Beringer, Stags’ Leap, Etude and Penfolds.

For a lot more assessment of the offer, pay a visit to Shanken News Daily.

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