Foster's Group Ltd., Southbank, Australia, rebranded its global wine business to Treasury Wine Estates.
Foster's Chief Executive Officer Ian Johnston said: "Since the acquisition of Mildara Blass and Rothbury Wines Limited in 1996, Beringer Wine Estates in 2001 and Southcorp Limited in 2005, we've assembled one of the world's great wine businesses. The creation of Treasury Wine Estates marks the next natural step in that journey, accelerating a cultural change and business transformation that began with the completion of the Wine Strategic Review in February 2009.
"Our recognition of Treasury Wine Estates does not impact our ongoing consideration of a demerger of our wine interests, nor does it represent fundamental change in our business model. It does, however, signify a new era for our employees, partners and customers.”
With more than 30,000 acres of vineyards, 20 wineries and 50 premium wine brands, Treasury Wine Estates offers wines from Australia, California, France, Italy and New Zealand. The name Treasury Wine Estates was chosen after considering the company's dedicated focus on viticulture, winemaking and consumers, the company said.