Treasury Wine Estates Eyeing Champagne, Sparkling Wine AcquisitionsMay 4, 2022
Treasury Wine Estates is aiming to bolster its portfolio in the sparkling wine category. Chief executive Tim Ford said the group is underweight in the rising sparkling segment, and is looking for brands that have the potential to do well across multiple global markets, according to the Australian Financial Review.
While Treasury has collaborated with Thienot to produce a Penfolds Champagne in recent years, Ford said the company still has a gap to fill in the category. He added that he expects the premium-and-above wine segment to continue to do well looking ahead, and noted that Treasury’s on-premise business is now back to about 90% of pre-pandemic levels.—Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.
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