TWE Sheds 12 Non-Core Brands As Streamlining Continues

Treasury Wine Estates (TWE) has sold 12 non-core brands, further streamlining its operations following its acquisition of Diageo’s wine business earlier this year. TWE says the brands—all from the U.S.—had annual aggregate sales of around 1 million cases. While it didn’t disclose the buyer or the brands (citing its current blackout period in advance of its full-year results release in mid-August), TWE said it received “roughly book value” for the sale. Last month, TWE announced plans to streamline its supply and production operations. —Peter Zwiebach

Tagged : Diageo, Treasury Wine Estates, wine

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