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Australia's Treasury Wine Estates sells US brand portfolio

Published 04/07/2016, 09:13 am
Updated 04/07/2016, 09:20 am
© Reuters. Australia's Treasury Wine Estates sells US brand portfolio
TWE
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SYDNEY, July 4 (Reuters) - Australia's Treasury Wine Estates Ltd TWE.AX , the world's largest stand-alone winemaker, said Monday it would sell 12 U.S. wine brands.

The company, which owns the Penfolds and Lindemans labels, said in a statement that the "non-core" portfolio of brands would be sold "at approximately book value," and it comprises about 1 million cases of wine.

It didn't disclose the buyer of the wine brands.

"The divestment will have nil impact on earnings in F16 and beyond," the statement said.

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