Treasury Wine Estates Closes $1 Billion Deal For Daou Vineyards

Treasury Wine Estates has officially closed its acquisition of Daou Vineyards in Paso Robles for up to $1 billion. The deal was originally announced October 30, and bolsters Treasury’s presence in the $20-$40 segment. The luxury California winery had just under 600,000 cases of U.S. volume last year, according to Impact Databank. This year, it’s projected to see full-year sales of $212 million and earnings before tax and interest of $63 million, Treasury said.

Ben Dollard, president of Treasury Americas, told SND, “Daou just planted several hundred acres in the coveted Adelaida district and are one of the largest landowners in that area. There is absolutely room to scale and grow, particularly with our Reserve Cabernet, Soul of a Lion, and Patrimony.”

Additionally, Treasury today announced a new Brighter Future initiative. The move will see it invest to make a positive impact in communities where the company is based, beginning with the Paso Robles area, where Treasury is partnering with Cal Poly in San Luis Obispo to provide the school’s Wine and Viticulture students with scholarship funds, guest lectures, internships, and field visits. TWE has also partnered with MUST! Charities to strategically support and invest back into the Paso community.—Daniel Marsteller

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