News Briefs for January 4, 2016
January 4, 2016•Diageo has completed the $600 million sale of its Chateau & Estate wine business in the U.S., as well as Percy Fox in the U.K., to Treasury Wine Estates. The two parties had announced the deal on October 14. With the acquisition of brands such as Beaulieu, Sterling, Provenance, Rosenblum, Acacia, Hewitt and Blossom Hill from Diageo, Treasury has doubled its $10 and above business in the U.S. market.
•Barnes & Noble has applied for a liquor license in upstate New York with a plan to test beer and wine sales. The bookseller, which has more than 600 stores but has lately faced falling sales, intends to initially launch beer and wine offerings at the café within its New Hartford, New York, location near Utica, according to multiple reports. Barnes & Noble’s move comes as Starbucks continues to expand the rollout of beer and wine at its cafes across the country, with more than 2,000 of its locations eventually expected to participate.
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