The latest news, trends, analysis, interviews and podcasts from the global food and beverage industry

Treasury Wine Estates (TWE) has announced plans to close its Karadoc commercial winery, located in Victoria, Australia, after 50 years in operation. The company says that the closure is a result of a decline in wine consumption and rising costs. The Karadoc winery currently produces wine for various TWE brands, such as 19 Crimes, Lindeman’s, Wolf Blass and Yellowglen. The production of these brands will continue through long-standing partnerships between TWE and local winemakers, Zilzie Wines and Qualia, as well as at TWE’s Barossa winery in South Australia. The site is expected to close by mid-2024. However, TWE said that its wine brands will continue to be produced locally. TWE's chief supply officer, Kerrin Petty, said: “Making the decision to close a site is something we take very seriously and is a last resort after we’ve looked at all other possible options. We’re committed to assisting our team members to find future employment and continuing to support the local winemaking industry.” In addition, the company plans to sell its commercial vineyards in Lake Cullulleraine, northwest Victoria, and Yankabilly, southwest New South Wales. Petty added: “We continually review our global vineyard assets to ensure they’re in the best possible places to grow our premium and luxury portfolio". “A number of factors contribute to our shifting vineyard footprint, including changing consumer trends and wine preferences as well environmental changes such as higher temperatures and reduced access to water. This has meant divesting some of our vineyard assets but also looking at opportunities to expand our footprint in new locations for future growth."