Treasury Wine Estates

China has finally removed crushing tariffs on Australian wine. But re-establishing ourselves in the market won’t be easy

Retrieved on: 
Wednesday, April 10, 2024
Pressure, Risk, Appellate Body, World Trade Organization, Hope, Wind, Diplomacy, Commerce, Wine, Treasury Wine Estates, Humour, Renewable energy

China’s Ministry of Commerce has finally ended its tariffs on Australian wine, which had been imposed for more than three years at rates as high as 218.4%.

Key Points: 
  • China’s Ministry of Commerce has finally ended its tariffs on Australian wine, which had been imposed for more than three years at rates as high as 218.4%.
  • In 2019, Australia sold A$1.24 billion worth of wine to China, surpassing France to capture a market share close to 40%.
  • Last year, US imports of Australian wine actually fell by about 20%, the UK held flat, and sales to India remain trivial.

Since we’ve been gone

  • The departure of Australian wine from the Chinese market created a gap that was quickly filled by other suppliers.
  • But the size of China’s imported wine market has also more than halved over this period, falling from A$3.3 billion in 2019 to A$1.5 billion last year.
  • On re-entry, Australian wine producers are set to face stiff competition in a significantly smaller market.
  • Major Australian producers like Treasury Wine Estates have maintained sizeable staff headcounts in China, expecting the Chinese market to return to prominence in their business.

Lessons for Australia – could it happen again?

  • Conversely, Australia used the WTO to challenge Chinese tariffs on barley and wine.
  • To maintain the WTO’s effectiveness, Australia and China have a shared interest in restoring its appellate mechanism, the Appellate Body.
  • It also offers broader lessons for Australia and is another data point confirming a positive trajectory in the overall bilateral relationship.
  • Read more:
    Positive outlook, with a dash of humour: Wang Yi's visit sets the tone for a real diplomatic reboot


The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

Vencanna Announces Amended Definitive Agreement with The Cannavative Group, Completion of Name Change, Resumption of Trading and Operational Update

Retrieved on: 
Friday, February 23, 2024
Smoke, University, Senior, Research, Investment, Treasury Wine Estates, CPG, Chase Bank, MillerCoors, HHS, Government, SAFE, Debenture, BID, Physics, LEED AP, Canopy Growth, Controlled Substances Act, Health, CSA, MBA, Gold, CGT, New Jersey Turnpike, IRC, College of Medicine, AB, CPA, TGC, Theoretical physics, FMCG, Fast-moving consumer goods, Rotman School of Management, Final good, Business, Beer, Cannabis, CFO, Acquisition, DEA, Letter, Plastic, ITG, Alcohol, Patient, Partner (business rank), SOP, Security (finance)

Pursuant to the Amended Agreement, Vencanna will acquire all of the outstanding membership units of Cannavative through an all-share exchange.

Key Points: 
  • Pursuant to the Amended Agreement, Vencanna will acquire all of the outstanding membership units of Cannavative through an all-share exchange.
  • The exchangeable securities are exchangeable, at the option of the holder, on a one-for-one basis for equivalent securities of Vencanna.
  • On January 17, 2023, at an annual general and special meeting, the shareholders of Vencanna approved the name change.
  • The Company has engaged Independent Trading Group (ITG) Inc. to act as the broker through which the Bid will be conducted.

Agtonomy Expands On-Farm Pilot Program to Drive Adoption of Agricultural Autonomy

Retrieved on: 
Monday, February 12, 2024
Robotics, SAN, OEM, AI, ROI, Treasury Wine Estates, Farmer, Agtech, McKinsey & Company, TWE, Bobcat Company, Climate change, Safety, Aircraft, Farm, Automation, Knowledge, Agriculture, Partnership

SOUTH SAN FRANCISCO, Calif., Feb. 12, 2024 /PRNewswire/ -- Agtonomy, a leading software and services company specializing in advanced autonomous and AI solutions for agriculture, announced today the 2024 expansion of their paid pilot program, putting growers in the driver's seat of next-generation, on-farm robotic automation.

Key Points: 
  • Our on-farm pilots with growers help us refine innovation so it works in real environments for faster innovation and adoption," said Tim Bucher, Agtonomy CEO and co-founder.
  • "Agtonomy's pilot program allows us to ensure our technology not only provides value, but works on their farm like we've promised."
  • Agtonomy is expanding on the success of the introductory paid pilot program started in 2023.
  • In addition, Agtonomy is working toward expanding the pilot program to West Coast fruit and nut tree growers.

Bronco Wine Co. Makes Two Strategic Hires to Help Drive Business Growth

Retrieved on: 
Tuesday, January 23, 2024
CFO, Accounting, Treasury Wine Estates, Fred's, Wine, Growth, Management

CERES, Calif., Jan. 23, 2024 /PRNewswire/ -- Bronco Wine Co., a family-owned wine business, and one of the largest privately held vineyard holders in the US, announced the appointment of two key industry veterans to help guide the company as it embarks on its next phase of growth through innovation and an ongoing commitment to creating high-quality wines that over-deliver at every price point.

Key Points: 
  • Mike Carranza will assume the role of Chief Financial Officer, responsible for enhancing the overall profitability and competitiveness of the business.
  • Mike brings more than two decades of senior wine industry experience to the role, having served in a variety of financial capacities at E&J Gallo Winery.
  • Mike joins from Vintage Wine Estates, where he was Senior Vice President of Global Sales and previously held senior roles at Treasury Wine Estates.
  • The new hires are part of a strengthening of the overall leadership of key functions within the business.

Vintage Wine Estates Names Farzana Shubarna as Vice President of Operations

Retrieved on: 
Tuesday, November 21, 2023
Food, Beverage, Agriculture, Natural Resources, Wine & Spirits, Retail, Hindi, International Flavors & Fragrances, Bachelor of Engineering, Wine, Logistics, Unilever, Chemical engineering, Certification, Wine Cellars, Stevens Institute of Technology, VWE, Engineering, Treasury Wine Estates, Rutgers University, Ace Cider, Center of excellence, Farzaneh, Management, Operation

Vintage Wine Estates, Inc. (Nasdaq: VWE and VWEWW) (“VWE” or the “Company”), one of the top wine producers in the U.S. with an industry leading direct-to-consumer platform, today announced the appointment of Farzana Shubarna in the newly created role of Vice President of Operations.

Key Points: 
  • Vintage Wine Estates, Inc. (Nasdaq: VWE and VWEWW) (“VWE” or the “Company”), one of the top wine producers in the U.S. with an industry leading direct-to-consumer platform, today announced the appointment of Farzana Shubarna in the newly created role of Vice President of Operations.
  • Ms. Shubarna brings extensive international experience driving value creation from her strategic leadership roles in manufacturing, warehousing, sustainability programs and end-to-end supply chain operations for the fast-moving consumer goods and nutrition industries.
  • “VWE is strategically looking for the highest level of talent in the marketplace today,” said Zach Long, Chief Operations Officer, Vintage Wine Estates.
  • “We believe we can fully leverage the expertise that Farzana is able to bring to our Company with her differentiated experience to drive increased efficiencies and best-in-class practices.”
    “I am thrilled to join the Vintage Wine Estates team,” Ms. Shubarna said.

Vintage Wine Estates Reports First Quarter Fiscal 2024 Results

Retrieved on: 
Tuesday, November 14, 2023
Retail, Food, Beverage, Wine & Spirits, Sale, EBITDA, ID, DTC, ACE, Cherry pie, Wholesaling, Stock, Workforce, Investment, House, Marketing, Capital, Weakness, Capital expenditure, VWE, Security, Treasury Wine Estates, Growth, News, Ace Cider, Pharmaceutical industry, Financial adviser, Kunde, Larix laricina

Vintage Wine Estates, Inc. (Nasdaq: VWE and VWEWW) (“VWE” or the “Company”), one of the top wine producers in the U.S. with an industry leading direct-to-consumer platform, today reported its financial results for the first three months of fiscal 2024 ended September 30, 2023 ("first quarter fiscal 2024").

Key Points: 
  • Vintage Wine Estates, Inc. (Nasdaq: VWE and VWEWW) (“VWE” or the “Company”), one of the top wine producers in the U.S. with an industry leading direct-to-consumer platform, today reported its financial results for the first three months of fiscal 2024 ended September 30, 2023 ("first quarter fiscal 2024").
  • Given that I have only just begun these efforts, we are withdrawing previously provided guidance for fiscal 2024.
  • As a percent of sales, SG&A in the first quarter of fiscal 2024 declined to 39% compared with 40% in the prior-year period.
  • Capital expenditures for fiscal 2024 are expected to be approximately $8 million to $10 million.

Irrigation Technology Company, Lumo, Announces Trial with Treasury Wine Estates in Bid to Enhance Water Management and Environmental Stewardship

Retrieved on: 
Thursday, December 14, 2023
TWE, Sustainability, Treasury Wine Estates, Head, Water, Electricity, Renewable energy, Science, Lumo

Lumo aims to help growers revolutionize the way they manage water in their vineyards, empowering them to automate and closely monitor irrigation activities.

Key Points: 
  • Lumo aims to help growers revolutionize the way they manage water in their vineyards, empowering them to automate and closely monitor irrigation activities.
  • The trial with TWE should provide concrete evidence of how Lumo's advanced water technology can help to improve operational efficiencies while aiding in substantial water conservation.
  • "Efficient irrigation is paramount in bridging the gap between water usage and the quality of fruit," said Devon Wright, Lumo CEO and Founder.
  • Given the high demand for Lumo's technology in 2023, this program presents growers with an opportunity to secure their irrigation system upgrade.

RIBOLI FAMILY WINES NAMES DAN GOLDSTONE AS FIRST CHIEF PEOPLE OFFICER (CPO)

Retrieved on: 
Tuesday, November 28, 2023
Chicken of the Sea, Corporate Affairs, Thai Union Group, University of Southern California, Acquisition, Senior, Treasury Wine Estates, CPO, Tennessee whiskey, Wine, Sea, Jack Daniel's, Chicken, Human Capital, University, Marshall School, Growth, Business, Brown–Forman, San Diego State University, Family, Management

LOS ANGELES, Nov. 28, 2023 /PRNewswire/ -- Riboli Family Wines has announced that Dan Goldstone has been appointed to the newly created position of Chief People Officer (CPO), responsible for leading all human resources functions for the company starting immediately.

Key Points: 
  • LOS ANGELES, Nov. 28, 2023 /PRNewswire/ -- Riboli Family Wines has announced that Dan Goldstone has been appointed to the newly created position of Chief People Officer (CPO), responsible for leading all human resources functions for the company starting immediately.
  • Goldstone will report to Steve Riboli, Owner/President of Riboli Family Wines.
  • "We are extremely excited to welcome Dan into our rich tradition of success at Riboli Family Wines to the newly created position of Chief People Officer.
  • For more information on Riboli Family Wines, visit http://www.riboliwines.com

Vintage Wine Estates Announces New President and CEO Completes First Week at VWE and to Present on First Quarter Fiscal 2024 Financial Results Conference Call and Webcast

Retrieved on: 
Monday, November 6, 2023
Food, Beverage, Agriculture, Natural Resources, Wine & Spirits, Retail, Treasury Wine Estates, PepsiCo, Webcast, VWE, CFO, LVMH, Drink, Management

During that time, he has organically grown the business in the high single digits while increasing profitability.

Key Points: 
  • During that time, he has organically grown the business in the high single digits while increasing profitability.
  • Prior to LVMH, Mr. Kaufman progressively advanced through several roles over a nearly 20-year career at PepsiCo, Inc. (Nasdaq: PEP).
  • Mr. Kaufman and Kristina Johnston, CFO, will review the Company’s operational progress and financial results for the period on the call.
  • Alternatively, you may access the webcast replay at ir.vintagewinestates.com , where a transcript will be posted once available.

Treasury Wine Estates announces acquisition of fastest growing luxury wine brand in the United States, DAOU Vineyards¹

Retrieved on: 
Monday, October 30, 2023
ASX, Treasury Wine Estates, Treasury, PJT Partners, Acquisition, Growth, TWE, Wine, Philosophy, Centerview Partners, Restaurant, Retail, Adelaida District AVA, Penfolds

DAOU's fully integrated digital platform, DAOU+, combines e-commerce and membership with seamless and unique features that increase consumer loyalty.

Key Points: 
  • DAOU's fully integrated digital platform, DAOU+, combines e-commerce and membership with seamless and unique features that increase consumer loyalty.
  • Tim Ford, CEO, Treasury Wine Estates said: "The U.S. is the world's largest wine market and we're beyond thrilled to add DAOU to our portfolio, cementing our position as a global luxury wine leader.
  • This is a transformative acquisition that will accelerate the growth of our luxury portfolio globally and paves the way for new luxury consumer experiences.
  • DAOU is an award-winning luxury wine business with an outstanding track record for growth and we have grand plans for DAOU to become the next brand with the international scale and luxury credentials of Penfolds.