Name change for Foster's wine business

21 July, 2010

Australian drinks group Foster’s has rebranded its global wine business as Treasury Wine Estates.

The name change will be adopted by the UK-based European arm Foster’s EMEA as Treasury Wine Estates EMEA.

The group owns 20 wineries and 50 wine brands including Wolf Blass, Rosemount, Wynns, Penfolds, Beringer and Lindemans.

A demerger of Foster’s wine and beer businesses has been on the cards for some time but chief executive officer Ian Johnston said the change “does not pre-empt any outcome for our demerger, nor does it represent any fundamental change in our business model”.

Johnston added: “It does represent the acceleration of a cultural change for those of us working in the wine business as we return to a dedicated focus on viticuture, winemaking and marketing.”

He said the new name reflected “the wealth of treasured wine brands that mark the core of our business”.

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