Treasury Wines buys Napa Valley company for $434 million

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Treasury Wine spent $434 million on a Napa Valley wine company in California today, according to Sky News Business Editor Ross Greenwood.

The business they have bought is Family Frank Vineyard, whose namesake was a well known Disney executive in the 1980s and 1990s.

Treasury Wine said the vineyard “fills a key portfolio gap for luxury chardonnay” as some of the wines produced sell for US$250 each.

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