Business & Finance - Harpers Wine & Spirit Trade News

Treasury Wine Estates streamlines senior executive team

Published: 27 November, 2013

Treasury Wine Estates (TWE) has announced today that its executive leadership team, which included five brand business unit leaders and four regional business units, will be reduced to three roles consisting of one chief marketing officer and two regional chief commercial officers, effective immediately.

Treasury Wine Estates and Accolade sign further bottling agreement in California

Published: 22 November, 2013

Treasury Wine Estates has signed a further deal this week with Accolade Winesto provide packaging and production services for several brands based in California, including its Geyser Peak, Atlas Peak and XYZin brands.

Treasury Wine Estates faces lawsuit

Published: 07 November, 2013

The hangover continues for Treasury Wine Estates (TWE) following its AUD $160 million write down earlier in the year; TWE now faces a lawsuit by Melbourne City Investments and second potential class action lawsuit funded by IMF Ltd and Maurice Blackburn lawyers who, to date, have only publicised their potential intent to undertake a shareholder class-action case against TWE but who have not, at this stage, commenced any legal proceedings.

Spirits companies should work harder to protect margins, warns Rabobank

Published: 21 October, 2013

If spirit companies are to generate growth in a depressed market they are better to concentrate on protecting margins than trying to drive volumes, according to Rabobank, financial experts for the drinks industry.

Naked Wines secures additional £6.4m for expansion abroad

Published: 23 August, 2013

Norwich-based Naked Wines has announced it has secured a third round of funding of £6.4 million from German WIV Wein International AG, a founding shareholder in the company, bringing the total amount invested by WIV in the online retailer to £15.4 million.

Treasury sees 50% profits dip due to unsold wine in US

Published: 22 August, 2013

Treasury Wine Estates has seen annual net profits slide by 50% due to one-off charges on unsold wine in the US, but sales in the UK have shown signs of recovery in recent months.

TWE under pressure after A$160m write-off

Published: 16 July, 2013

Treasury Wine Estates has come under pressure to justify its continued presence in the Americas after announcing it will be forced to spend tens of millions of dollars to destroy excess wine in the US.