Diageo looks for buyer for wine business
Australia-based winemaker Treasury Wine Estates is said to be looking closely at buying the wine business from the British drinks company.
DBR Staff Writer. Published 05 October 2015
Alcoholic beverages company Diageo is looking for a buyer for its California-based Sterling Vineyards wine brand Blossom Hill.
Diageo's wine business represents only a meager 4% of the total revenues. With a market capitalization of $43bn, the company makes most of its earnings from its spirits division, which comprises brands such as Johnnie Walker, Captain Morgan rum, Smirnoff Vodka, and Tanqueray gin and the Guinness brand in the beer category.
The company`s wine division includes labels such as Piat d`Or and Californian wine brand Blossom Hill, which has a huge market in the UK, the Sydney Morning Herald reported.
Read More at Source | Wine Drinks Business Review
