Treasury Wine Estates to acquire Frank Family Vineyards for $315m

Treasury Wine Estates has reached an agreement to acquire US luxury wine business Frank Family Vineyards (FFV) for $315 million. 

FFV, located in Napa Valley, California, will be added to Treasury’s portfolio and will expand the company into the luxury chardonnay sector. 

Treasury’s portfolio includes brands such as Blossom Hill, Squealing Pig and 19 Crimes.

Treasury Wine Estates says that it is well positioned to support FFV’s growth given its ‘luxury sales credentials’ and national distribution network.

The acquisition will be funded through a combination of debt and cash, including proceeds from recent US asset divestments.

The transaction is expected to be completed in December 2021.