AUS: Treasury Wine Estates eyes climate change with vineyard buy
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”.
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....
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....
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 just-drinks' ten favourite quotes in 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 analyses on just-drinks in 2013....
- Whatever happened to binge Britain? - comment
- How to turn a domestic spirit into a global brand
- The US beer market - A level playing field for all
- Remy Cointreau's Q2 and H1 - preview
- Mahou San Miguel - just the Facts
- Diageo sells off United Spirits' Bouvet Ladubay
- Captain Morgan distillation trial queried by USVI
- Sazerac sues Brown-Forman over Tennessee Fire
- Craft, imports near 50% share in US on-trade
- Beam Suntory's Laphroaig Brodir - NPD
- Global Beer Trends 2015 : Global Beer Trends and Long-term Forecasts
- Global sparkling wine insights - market forecasts, product innovation and consumer trends research
- Future growth opportunities for global spirits
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- Global Wine Market to 2019 - Market Size, Development, and Forecasts