Fosters reveals new wine branding
Fosters has unveiled Treasury Wine Estates, the umbrella branding for its new demerged wine business.
“The announcement today does not pre-empt any outcome for our demerger, nor does it represent fundamental change in our business model. It does, however, represent the acceleration of a cultural change for those of us working in the wine business as we return to a dedicated focus on viticulture, wine making and the marketing and sale of one of the world’s most outstanding portfolios,” said Fosters CEO Ian Johnston.
An internal 2011 EBIT target of $84 million for the business was also leaked accidentally, after materials from the internal sales conference at which the new branding was announced were accidentally left behind for the media conference and photo call.
The Treasury Wine Estates will cover all of Foster’s wine assets, including Australian wineries Penfolds, Lindemans, Wolf Blass, Rosemount, Wynns Coonawarrra Estate, Seppelt, Coldstream Hills and Devil’s Lair, plus international assets like New Zealand’s Matua Valley, Italian winery Castello di Gabbiano, and Californian wineries Beringer, Chateau St. Jean, Stags’ Leap, St Clement and Etude. In total, Treasury Wine Estates will cover 12,000 hectares of vineyards, 20 wineries and 50 wine brands.
The business will continue to be managed as four regional operations, in Australia and New Zealand, The Americas, Europe, Middle East & Africa and Asia. Around 4000 employees are expected to move under the Treasury Wine banner.