Olivier Goudet increases Treasury Wine Estates stake
French billionaire Olivier Goudet has increased his holding in Treasury Wine Estates, reinforcing support for the Australian wine giant as it prepares to unveil a long-term recovery strategy. The move comes as investors closely watch chief executive Sam Fischer’s plans to revive growth and rebuild confidence.
French billionaire Olivier Goudet has spent a further A$31m on shares in Treasury Wine Estates, taking his stake up to just above 9% in the country’s biggest wine company and owner of the flagship Penfolds range.
The investment, through his Luxembourg investment vehicle Platin via a series of deals over recent weeks, takes his stake to some 73 million shares in the company and further strengthens his influence over the group as it prepares to brief shareholders at the start of next month.
Fischer prepares a long-term strategy
That is when chief executive Sam Fischer is scheduled to unveil his long-term strategy to combat the current negative consumer spending downturn and revitalise the brand portfolio.
Goudet said earlier this year that he is investing in Treasury for the longer term and that he backs the company’s management.
Investor disagreement over direction
That is in contrast to former chief operating officer Robert Foye, who is also a significant stakeholder.
He has openly questioned whether the non-executive directors have large enough shareholdings to give them a meaningful personal interest in the company’s fortunes and wants it to revert to regional operations rather than focusing globally on brands such as Penfolds, Daou, Frank Family Vineyards and 19 Crimes.
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That strategy is believed to be a central plank in Fischer’s plans.
Market sees value in Treasury assets
Analysts say that Goudet’s increased backing indicates that Treasury’s current share price significantly undervalues its assets and provides a level of institutional support for the stock’s valuation.
The shares rose by more than 3% on Goudet’s recent purchases to stand at A$4.3.
Even so, after Fischer’s scrapping of the share buyback programme and writing off the entire goodwill of its US operations earlier this year, they have still lost 20% in 2026 and more than 50% in the past 12 months.
Five years ago they stood at A$18.
Optimism over recovery prospects
Analysts calculate that the track record of Fischer, who previously led Lion’s Australian business, gives some optimism that Treasury’s business will start to pick up. One has set a target price for the shares of A$5.30, which would represent a 20% upturn and a handsome medium-term return on Goudet’s investment over the past six months.
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