Tuesday June 2, 2020

Diageo sells UK, US wine interests for $600 million

Treasury Wine Estates has agreed to buy most of Diageo’s US and UK wine assets for $600 million as it seeks to add high-end labels in some of the world’s biggest markets

13th October, 2015

Treasury Wine Estates, the maker of Penfolds Grange, agreed to buy most of Diageo’s US and UK wine assets for $600 million (€527 million) as it seeks to add high-end labels in some of the world’s biggest markets.

The acquisition will be funded with new debt and a rights offering to raise about A$486 million (€312 million), the Melbourne-based company said.

The deal gives Treasury Wine US brands including Beaulieu Vineyards and...

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