©Frank Family Vineyards
Treasury Wine Estates has reached an agreement to acquire US luxury wine business Frank Family Vineyards (FFV) for $315 million.
FFV, located in Napa Valley, California, will be added to Treasury’s portfolio and will expand the company into the luxury chardonnay sector.
Treasury’s portfolio includes brands such as Blossom Hill, Squealing Pig and 19 Crimes.
Treasury Wine Estates says that it is well positioned to support FFV’s growth given its ‘luxury sales credentials’ and national distribution network.
The acquisition will be funded through a combination of debt and cash, including proceeds from recent US asset divestments.
The transaction is expected to be completed in December 2021.
© FoodBev Media Ltd 2021
World Beverage Innovation Awards – NOW OPEN FOR ENTRIES!
The awards celebrate excellence and innovation across the global beverage industry.
Don’t miss out on having your innovations recognised on a global scale.
Deadline for entries 23 July – enter now!
Don’t get left behind
Start your free Foodbev magazine trial today and join thousands of fellow industry professionals in receiving food and drink trends direct to our business.
Click here to start your free trial