AUS: Treasury Wine Estates eyes climate change with vineyard buy

By | 2 July 2013

TWE is seeking vineyards in cooler regions

TWE is seeking vineyards in cooler regions

Treasury Wine Estates (TWE) is to buy a Tasmanian vineyard as it follows through on a pledge to purchase sites in cooler areas because of climate change.

The wine company said today (2 July) that it has signed an agreement to take over the White Hills vineyard from Brown Brothers for an undisclosed fee. The 83-planted-hectare site in the Tamar Valley grows Pinot Noir, Chardonnay, Sauvignon Blanc, Riesling, Pinot Gris and Gewurztraminer grapes, TWE said.

“The acquisition of White Hills supports TWE’s long term strategy of owning or controlling vineyards that supply grapes for our luxury wine portfolio,” said chief executive David Dearie. “Over the last 18 months we have invested heavily in premium grape and wine production capacity globally, and this is a logical next step.”

The deal is expected to complete at the end of this month.

In April, Dearie said in an interview that his group's acquisition teams were looking at sites in Tasmania. “As the world heats, Tasmania’s very well positioned because of the cooler climate,” Dearie said.

In today's announcement, TWE said cooler climate regions “lend themselves to premium quality fruit and also hold appeal from a longer term sourcing and climate change perspective”.

Expert analysis

Environmental sustainability in the global drinks industry in 2012

This four-part report takes an in-depth look at the buzz topic of environmental sustainability throughout the global drinks industry. Each chapter looks at the environmental footprint of each drinks category: Beer, soft drinks & bottled water, spirits and wine.

Sectors: Environmental issues, Mergers & acquisitions, Wine

Companies: Treasury Wine Estates

View next/previous articles

Currently reading -

AUS: Treasury Wine Estates eyes climate change with vineyard buy

There are currently no comments on this article

Be the first to comment on this article

Related research

Treasury Wine Estates Ltd in Wine (World)

Treasury Wine Estates has faced serious challenges since its spin-off from Foster’s Group in 2011. The US, which was a key component of its turnaround plan, has thus far failed to pay dividends. In 2013, the company was put in the extremely uncomfort...

Wine in Singapore

Wine in Singapore industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2008-12, and forecast to 2017). The profile also contains descriptions of the leading players...

Wine in New Zealand

Wine in New Zealand industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2008-12, and forecast to 2017). The profile also contains descriptions of the leading playe...

Related articles

Review of the Year 2013 - Part IV: Wine

The final just-drinks management briefing of the year takes a look back at the last 12 months in the global drinks industry. The penultimate chapter in this five-part briefing reviews 2013 for wine.

US: Treasury Wine Estates tackles debt with new notes issue

Treasury Wine Estates has issued US$250m worth of notes to help refinance its US debt.

just the Ten - Top News Stories of 2013

With the end of the year looming, just-drinks is running a series of 'Top Tens of the Year' in the run-up to Christmas. Here are the ten most read news stories on just-drinks in 2013.

just-drinks tagline

Not a member? Join here

Decrease font sizeDecrease font sizeDecrease font size Increase font sizeIncrease font sizeIncrease font size Comment on this article Email this to a friend Print this page