Treasury’s Tim Ford strikes the $1.6b deal of his life
It took six months to buy Daou Vineyards. Shareholders will judge the wine CEO’s tenure by how well he can turn the business into a brand like Penfolds.
It took six months and five trips to the United States for Tim Ford to cement the deal of his life.
Late last month, at the prestigious Pebble Beach golf club in California, Treasury Wine Estates’ chief executive finally landed the $1.6 billion Daou Vineyards, built up as a prestige brand in the Paso Robles region by two brothers, Georges and Daniel Daou. Ford has grand plans to turn Daou into a global brand from its US roots, similar to Treasury’s flagship Penfolds, the Australian brand with a history stretching back to 1844.
Simon EvansSenior reporterSimon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
