Treasury Wine Estates to sell 12 US brands

The Australian-based company did not name the brands that it would be selling, but they comprise 1 million cases.|
BILL SWINDELL
THE PRESS DEMOCRAT

Treasury Wine Estates has announced that it’s selling 12 U.S. brands as part of its strategy to compete better in the premium wine market.

The Australian-based company did not name the brands that it would be selling, but said they comprised 1 million cases. The company is in a blackout period before releasing its quarterly earning on Aug. 18.

It said the sales would have a “nil” impact on its earnings. Treasury Wine owns historic Beringer brand in St. Helena as well as premium brands such as Chateau St. Jean in Kenwood and St. Clement and Stag’s Leap in Napa County.

The company last year purchased most of Diageo’s North American and British wine operations for more than $550 million, and has undertaken a reorganization of its California operations. As a result, the company moved production from Chateau St. Jean to Beringer.

“Thy have had a lot to take in with the Diageo situation,” said ?Joe Ciatti, a principal at Zepponi and Co., a Healdsburg mergers and acquisition firm.

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