Treasury Wine Estates’ underperformance in the United States retail market appears to have worsened in December with its Frank Family Vineyards in US wine capital, the Napa Valley, beset by declining visits.
Treasury’s flagship brand is Penfolds, but it owns many well-known vineyards in Napa. The company last year splashed $1.57 billion buying luxury wine group Daou Vineyards, located in central California.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
