Is Pernod eyeing up Treasury Wine Estates?

2nd May, 2014 by Lucy Shaw

Shares in troubled Australian wine company Treasury Wine Estates leapt by over 14% today after it was reported that Pernod Ricard was interested in buying its US assets.

Pernod Ricard’s alleged interest in TWE was reported in an interview with Jean-Christophe Coutures, chief of Pernod Ricard Winemakers, in The Australian.

The newspaper reported Coutures as registering an interest in buying the US assets of TWE, which include Beringer, Stags’ Leap Winery, St. Clement and Château St Jean.

Treasury however, was quick to quash the rumours this morning, telling Reuters that it had not been approached by the French drinks giant and was not in talks with Pernod about its American assets.

After Treasury poured water on the rumours, sales in the company dropped from a high of AU$4.38, though remained up by 5.7% to AU$4.06 at 2.25am GMT, Reuters reports.

Pernod Ricard acquired its first US winery last week in the form of the 100-hectare Kenwood Vineyards in California, which it bought from US wine company F Korbel & Bros for a reported US$100 million.

Last month, Treasury’s new CEO, Michael Clarke, said the company’s US assets were too important to give up despite suffering a series of writedowns that resulting in the stepping down of former CEO David Dearie.

Leave a Reply

Your email address will not be published. Required fields are marked *

Please note that comments are subject to our posting guidelines in accordance with the Defamation Act 2013. Posts containing swear words, discrimination, offensive language and libellous or defamatory comments will not be approved.

Subscribe to our newsletters

Fine Wine Logistics Coordinator

IG Wines
London, GB

Brand Ambassador East Coast USA - Ableforth’s

Maverick Drinks
New York - field-based, USA

Brand Ambassador West Coast USA - Ableforth’s

Maverick Drinks
San Francisco / Los Angeles - field-based, USA

Global Travel Retail Manager

Maverick Drinks
London, UK

Portfolio Ambassador - Europe

Maverick Drinks
North West Europe - field-based, UK

Senior Partner Manager - Grocery

Maverick Drinks
London/Field Based, UK

Sales Executive

Woolf Sung Ltd
London

Trade Marketing Manager - Maverick Drinks

Maverick Drinks
London / Kent

Business Development Executive Central London

William Grant & Sons UK
London

PR & Communications Officer - Atom Group

ATOM Supplies Limited
London, UK

Crus Bourgeois du Médoc 2015 Official Selection Tasting

London,United Kingdom
21st Sep 2017

The City Wine Show

London,United Kingdom
22nd Sep 2017

Almaviva 2015 Vintage and Vertical Tasting

London,United Kingdom
28th Sep 2017
Click to view more

Global Chardonnay Masters 2017

Deadline : 29th September 2017

The Global Riesling Masters 2017

Deadline : 29th September 2017

Click to view more

The Global Rosé Masters 2017

With wines from the palest of pink to almost ruby red, bone dry to almost cloyingly sweet, reductively handled to barrel-aged, as well as gently spritzy to fully sparkling.

The Global Organic Masters 2017

The drinks business is thrilled to announce the launch of The Global Organic Masters

Click to view more