Troubled drinks giant Treasury Wine Estates is to shut its Rosemount Ryecroft winery in Australia’s McLaren Vale as part of a cost-cutting initiative.
Chief executive Michael Clarke has retaliated against criticism from small retailers, saying they are too quick to get upset when big outlets get better deals.
Lunch and Champagne tastings gave way to the disruption of road blocks and the protestors of Occupy Central this week in Hong Kong.
Australia’s Treasury Wine Estates has received formal takeover offers from two private equity firms, according to the Australian Financial Review.
Wolf Blass has revived one of its original wines, Brown Label Shiraz, to celebrate the 80th birthday of the founder and announced that Watson’s Wines will have the initial distribution rights in Hong Kong.
The man behind Treasury Wine Estates has called the company’s US venture a “nightmare from day one” urging whoever takes it over to sell it.
Winemaker Wolf Blass is fighting to close a tax loophole allowing New Zealand competitors to claim millions in wine tax rebates from Australia.
The UK and Canadian markets are helping to create demand for Australian Malbec, according to Wolf Blass chief winemaker Chris Hatcher.
Struggling wine group Treasury Wine Estates is to cut around 5% of its global workforce in order to invest more heavily in marketing and promoting its brands.
US fund manager Wellington Management has spent AU$25m on shares in the struggling wine company Treasury Wine Estates.
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