Company Description
Treasury Wine Estates Ltd (ASX:TWE) is a global wine company that recently acquired DAOU Vineyards, a renowned luxury wine business in Paso Robles, California. This transformative deal, valued at $900 million upfront with an additional earn-out of up to $100 million, will enhance TWE's luxury portfolio, particularly in the U.S. market. DAOU, known for its award-winning Cabernet Sauvignon-based PATRIMONY wines and innovative consumer experiences, will benefit from TWE's global marketing and distribution network. The acquisition is expected to be completed by the end of CY2023, and both Georges and Daniel Daou will continue to play key roles in the business.
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