What’s Next for TWE, Diageo after Wine Transaction?

Yesterday, the sale of the bulk of Diageo's wine portfolio to Treasury Wine Estates was confirmed after much speculation earlier in the year. You'll recall, TWE picked up Beaulieu Vineyards, Sterling Vineyards, Acacia (but not the brand's winery and vineyard), Provenance and Hewitt, plus a bottling facility for a whopping $600 million - $552 million in cash and another $48 million in leases.ACQUISITION STRATEGY. TWE's predecessor Foster's Group didn't have the best track record for acquisitions (see: Beringer), but TWE