Penfolds owner Treasury Wine Estates will narrow its focus to 10 key brands, invest in lighter styles and zero- and low-alcohol wines, and review its struggling business in the United States, in a bid to turn around its flagging profitability.
Chief executive Sam Fischer said the strategic review of the Americas division, which includes the high-end Daou label and Beringer, one of Napa Valley’s most iconic operating vineyards, could result in the sale of some assets.
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