Treasury Wine Leasing Napa Vineyards to Meet Premium Demand Jump
Treasury Wine Leasing Napa Vineyards to Meet Premium Demand Jump
Nov 30, 2012 6
(Bloomberg) - Treasury Wine Estates Ltd. (TWE), the world’s second-biggest listed wine producer, is renting vineyards in California’s Napa and Australia’s Barossa valleys to get hold of grapes amid surging demand for high-end vintages.
Where owners weren’t prepared to sell up, the company was happy to lease wine country to meet market demand, David Dearie, chief executive officer of the Melbourne-based company, said in an interview in Sydney yesterday. Treasury’s brands include the Penfolds and Beringer labels.
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