Treasury To Sell Off Sonoma’s Asti Winery As Part Of Consolidation PlanMarch 31, 2015
Treasury Wine Estates (TWE) is putting its Asti winery in Sonoma County on the block as part of its move to streamline its U.S. operations. Asti’s wine production will be shifted to TWE’s other California wineries, with the majority of its commercial and “masstige” production moving to Paso Robles and its luxury production going to Beringer. Additionally, the packaging lines at TWE’s Napa Bottling Center are being consolidated in an effort to enhance cost-efficiency.
TWE is also streamlining its Australian operations. The packaging and warehousing of wines previously processed at Karadoc will now occur at the company’s Wolf Blass facility in Barossa.
These initiatives are scheduled for completion by the end of TWE’s fiscal 2016. The company projects the facility consolidation to result in annual savings of A$50 million ($38m) by 2020.
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