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Australia's Treasury Wine Estates to Acquire DAOU Vineyards for $900 Million

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Australia,Treasury Wine Estates,DAOU Vineyards

Australia's Treasury Wine Estates has announced its plans to buy luxury wine brand DAOU Vineyards in California for $900 million in cash. The acquisition is expected to be earnings per share accretive in fiscal 2025.

- Australia's Treasury Wine Estates said on Tuesday it has entered into a deal to buy luxury wine brand DAOU Vineyards based in Paso Robles, California for $900 million in cash.Inclusive of cost synergies of more than $20 million, the acquisition is expected to be mid to high-single-digit earnings per share accretive in fiscal 2025, the first year of Treasury Wine owning DAOU.

The company intends to establish $311 million of debt via a new $350 million acquisition bridge facility to expedite funding for the acquisition.

 

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