Treasury Wine Estates has launched a sailing tie-up for its Penfolds brand

Treasury Wine Estates has launched a sailing tie-up for its Penfolds brand

Treasury Wine Estates (TWE) has launched a sponsorship deal with Oracle Team USA, the defending America's Cup champions, and its Penfolds brand.

Penfolds will be served at all Oracle Team USA events and hospitality areas across the world, the company announced on Tuesday (2 October). The sponsorship deal will run until the finals of the America's Cup in December next year, a TWE spokesperson told just-drinks yesterday.

Penfolds MD Gary Burnand said: “I encourage our Penfolds customer family, including restaurants and fine wine partners, to show their support of the defending America's Cup Champions by having Penfolds wines available."

TWE declined to comment on financial details of the tie-up. 

In June, Treasury Wine Estates released 12 bottles of Penfolds 2004 Block 42 priced at US$168,000 each.