Beer giant CUB expands into wine

Original article by Simon Evans
The Australian Financial Review – Page: Online : 17-Sep-19

Beer company Carlton & United Breweries has purchased Riot Wine Co, which sells wine in aluminium cans and kegs. Riot Wine was established in 2016 by Joe Cook and Tom O’Donnell, with 90 per cent of its sales coming from on-tap wine in bars and hotels. CUB sales vice-president Rose Scott says Riot’s management will continue to run the company, while she says that CUB has no further wine investments in mind at this stage.

CORPORATES
CARLTON AND UNITED BREWERIES, RIOT WINE CO

Treasury Wine answers critics with big profit

Original article by Eli Greenblat
The Australian – Page: Online : 16-Aug-19

Treasury Wine Estates released its 2018-19 results on 15 August, with the company reporting a net profit of $419.5 million, up 16 per cent. Sales increased by 17 per cent to $2.831 billion, while Treasury Wine declared a final dividend of $0.20 per share, up from $0.17. Its earnings in Asia rose 43 per cent to $293.5 million, while earnings in the Americas and Australia rose 13 per cent and 15 per cent respectively. As well as releasing its full year results, Treasury Wine also advised it had acquired the French winery Cambon La Pelouse.

CORPORATES
TREASURY WINE ESTATES LIMITED – ASX TWE, CAMBON LA PELOUSE

Australian winemakers stockpile supplies in Europe as hard Brexit beckons

Original article by Hans van Leeuwen
The Australian Financial Review – Page: 3 : 14-Jan-19

The prospect of a no-deal Brexit presents a big headache for the Australian wine industry. Australia is the biggest source for UK wine imports, with about 240 million litres of Australian wine exported to the UK each year. Of that, 80 per cent is sent in bulk and is bottled in the UK, with 25 per cent of that then being re-exported to the European Union. A no-deal Brexit is likely to result in delays in shipments of Australian wine from the UK as a consequence of new customs procedures. Winemakers are already stockpiling supplies in Europe, while in the longer term they may decide to choose to bottle wine in Europe or export bottled wine directly from Australia to Europe.

CORPORATES
TREASURY WINE ESTATES LIMITED – ASX TWE, CASELLA WINES PTY LTD, AUSTRALIAN VINTAGE LIMITED – ASX AVG, THE YALUMBA WINE COMPANY, ACCOLADE WINES LIMITED

Giant of yachting and wine dies at 87

Original article by Leo Shanahan, Gina Rushton
The Australian – Page: 1 & 4 : 11-Jan-16

Yachting Australia president Matt Allen and journalist D.D. McNicoll have praised Australian businessman Robert Oatley, who died at the age of 87 on 10 January 2016. Oatley was estimated to be the nation’s 49th richest individual by "BRW" in 2015, with personal wealth of around $A1bn. Oatley was the founder of wine producer Rosemount Estate, although he is best known as the owner of Sydney-to-Hobart winner "Wild Oats XI".

CORPORATES
YACHTING AUSTRALIA, ROSEMOUNT ESTATES PTY LTD, SOUTHCORP LIMITED, HAMILTON ISLAND LIMITED

Treasury enjoys vintage Asian returns

Original article by Simon Evans
The Australian Financial Review – Page: 19 : 7-Oct-15

Australian-listed Treasury Wine Estates has indicated that it is performing well in all of the regions in which it operates. CEO Mike Clarke notes that the wine group is performing particularly well in Asia. Treasurer’s Asian division posted a $A73.1m profit in 2014-15, which was 53 per cent higher than previously. The global launch of the latest Penfolds Grange vintage will be held in Shanghai.

CORPORATES
TREASURY WINE ESTATES LIMITED – ASX TWE, PENFOLDS WINES PTY LTD, WOLF BLASS WINES PTY LTD, STERLING VINEYARDS, DIAGEO PLC, BLOSSOM HILL WINERY, COLES GROUP LIMITED, WOOLWORTHS LIMITED – ASX WOW, PREMIER FOODS PLC, FOSTER’S GROUP LIMITED

Treasury’s wine-tax rort guide

Original article by Simon Evans
The Australian Financial Review – Page: 1 : 21-Aug-15

A rebate system introduced in 2004 to help small winegrowers in regional areas is being rorted by some unscrupulous operators, according to Assistant Treasurer Josh Frydenberg. The number of entities claiming wine equalisation tax (WET) credits in 2013-14 was 1967, about 100 more than in 2006-07. The Treasury estimates abuse of the so-called WET rebates is set to cost taxpayers $A350 million by 2016. Frydenberg has released a discussion paper and set up a panel of industry experts as he moves to reform the system.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN TAXATION OFFICE, DE BORTOLI WINES PTY LTD, THE YALUMBA WINE COMPANY, FRASER GALLOP ESTATE, WINEMAKERS’ FEDERATION OF AUSTRALIA INCORPORATED

Wine buyers splash out

Original article by Simon Evans
The Australian Financial Review – Page: 15 : 17-Jul-15

Liquor retailers have reported a strong rise in sales of Treasury Wine Estates’ more upmarket wine brands in response to a limited offer in which they can buy a $A3,000 wine cabinet for just $A1,199. Consumers who spend at least $A500 on wine brands such as Penfolds, Wolf Blass and Wynns Coonawarra can buy the wine cabinet at the heavily discounted price in July and August 2015. A smaller wine cabinet is also available at a deep discount to people who spend at least $A180 on wine.

CORPORATES
TREASURY WINE ESTATES LIMITED – ASX TWE, PENFOLDS WINES PTY LTD, WOLF BLASS WINES PTY LTD, WYNNS COONAWARRA ESTATE PTY LTD, DAN MURPHY’S, WOOLWORTHS LIMITED – ASX WOW, BOCCACCIO CELLARS PTY LTD, WINE AUSTRALIA PTY LTD

Accolade’s Burge buy comes with $10m loss

Original article by Simon Evans
The Australian Financial Review – Page: 18 : 29-Jun-15

Grant Burge Wines sells around 450,000 cases of wine in Australia each year, and ranks among the nation’s 10 biggest-selling wine brands. Accolade Wines acquired the business in early 2015 and has appointed Jeff Bond as general manager. His task will be to turn around Grant Burge’s fortunes, after it posted a loss of $A9.4m in 2013-14. This followed a modest profit of $A264,247 in the previous fiscal year. Revenue was $A40.4m in 2013-14, compared with $A43.2m previously.

CORPORATES
ACCOLADE WINES LIMITED, GRANT BURGE WINES PTY LTD, CHAMP PRIVATE EQUITY PTY LTD, PETER LEHMANN WINES LIMITED, CASELLA WINES PTY LTD, HARDY WINE COMPANY LIMITED, LEASINGHAM WINES, NOTTAGE HILL WINES, BANROCK STATION WINES, MUD HOUSE WINES LIMITED, CONSTELLATION BRANDS INCORPORATED, TREASURY WINE ESTATES LIMITED – ASX TWE, PENFOLDS WINES PTY LTD

Treasury forecasts ‘big’ growth in wine sales to China

Original article by Angus Grigg
The Australian Financial Review – Page: 15 & 20 : 23-Jun-15

Treasury Wine Estates is upbeat about its prospects in the Chinese market. Robert Foye, the group’s MD for Asia, expects China to be Treasury’s third-biggest source of profits and revenue within five years. He believes that Treasury’s annual sales in Asia could potentially grow by 15-20 per cent over this period. Treasury is also likely to benefit from the Australia-China free trade agreement.

CORPORATES
TREASURY WINE ESTATES LIMITED – ASX TWE, WOLF BLASS WINES PTY LTD, PENFOLDS WINES PTY LTD

Tax plonk more, says Grange man

Original article by Simon Evans
The Australian Financial Review – Page: 7 : 5-Jun-15

Treasury Wine Estates and Pernod Ricard are lobbying for reforms to Australia’s wine equalisation tax system. They favour a standardised tax rate for all wines, irrespective of the price or quality. Penfolds Grange winemaker Peter Gago is also in favour of reform, arguing that the nation’s wine industry needs to focus more on the premium end of the wine market and encourage local consumers to drink wines that are of a higher quality.

CORPORATES
TREASURY WINE ESTATES LIMITED – ASX TWE, PERNOD RICARD SA, PENFOLDS WINES PTY LTD, JACOB’S CREEK PTY LTD, ABSOLUT VODKA, AUSTRALIA. DEPT OF THE TREASURY, MAGILL ESTATE