Lebanese-founded Californian Vineyard Sold for Record-Breaking $1 Billion
TL;DR Summary
Australian company Treasury Wine Estates has acquired Californian vineyard DAOU Vineyards, founded by Lebanese migrants Georges and Daniel Daou, for up to $1 billion. The acquisition will provide Treasury with the scale to potentially launch a luxury wine division covering the Americas, as it aims to generate more revenue from premium wines amid a decline in bulk wine sales.
Topics:top-news#acquisition#business#californian-vineyard#lebanese-migrants#luxury-wine-division#treasury-wine-estates
- Californian Vineyard Founded by Lebanese Migrants Sells for Up to $1 Billion The Wall Street Journal
- Australia's Treasury Wine tests tricky US market with $900 mln purchase Reuters
- Wine company to acquire Daou Vineyards in $900 million deal Paso Robles Daily News
- Daou Vineyards in Paso Robles sold for almost $1 billion San Francisco Chronicle
- Penfolds-Maker Treasury Buys DAOU Vineyards for Up to $1 Billion Bloomberg
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