Treasury Wine Estates largely unscathed by California wildfires

Treasury Wine Estates says its operations in California escaped significant fire damage in deadly wildfires.

The wildfires destroyed Napa’s Signarello Estate winery. Pic: AFP

Treasury Wine Estates says its operations in northern California’s wine region have escaped significant fire damage, as deadly wildfires continue to ravage the state.

“TWE is fortunate that all of our people are safe, and our infrastructure in the region remains intact with no significant fire damage,” chairman Paul Rayner told shareholders at the wine company’s annual meeting.

“Our thoughts are with the Napa and Sonoma communities that have been impacted and we are offering financial and other support to these communities in their time of need.”

Treasury Wine (TWE) owns and operates about 3,750 planted hectares of vineyards in the US, as well as cellar door facilities and packaging operations.

Some wineries have been destroyed and grape crops damaged by wildfires sweeping through Califirnia, which have claimed 41 lives and destroyed more than 86,200 hectares of the state.

At least 65 people in Sonoma County and 15 people in Napa remain missing.

Earlier this month, the company assured shareholders that the majority of its vintage had already been picked, with just over 10 per cent left to be harvested in fire-hit Sonoma County and Napa Valley.

With Dow Jones