Treasury Wine Estates Acquires Daou Vineyards for $1 Billion

Dear Client: Treasury Wine Estates announced this afternoon that it has reached an agreement to acquire Daou Vineyards for an upfront consideration of $900 million, plus an additional earn-out of up to $100 million. The acquisition includes the brand, the Daou Mountain Estate and hospitality site, four boutique luxury wineries and around 400 acres of vineyards in the Adelaida District of Paso Robles. Founders Georges and Daniel Daou will still be involved in the business. "The US is the world's largest wine