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The Australian wine group Treasury Wine Estates (TWE) has bought four wineries in Bordeaux and Napa Valley. The company, which owns the well-known Australian brands Penfolds, Lindemans and Wolf Blass as well as the premium wines of the Californian winery Beringer, announced the acquisition of three Bordeaux châteaux: Château Belle-Vue with about 15 hectares of vineyards, Château Gironville (5 hectares) and Château Bolaire (7 hectares). The estates are located on the Left Bank like Château Cambon la Pelouse in Haut-Médoc, which was already purchased in 2019. As late as recently, TWE also took over the Californian Frank Family Vineyard in Napa Valley for a colported 315 million US dollar (278 million euro).
The purchases are part of the premium strategy that TWE has been pursuing since this year. This is to make up for the declines in the China business due to the high customs duties. TWE is now positioning itself as a premium supplier for the international market, especially the USA. To this end, some brands in the medium and lower price segments have already been divested in 2021. Ben Dollard, president of Treasury Americas, stated the goal to become the market leader for premium wines in America.

(al / Source: Meininger; Photo: TWE)

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