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By Byron Kaye, Roushni Nair and Peter Hobson
(Reuters) -Top Australian wine producer Treasury Wine Estates has agreed to a $900 million buyout of U.S. rival DAOU Vineyards, increasing its exposure to a market that it has long struggled to dominate amid uncertainty about stalled exports to China.
Treasury, owner of the Penfolds and Wolf Blass labels, said it was buying the Paso Robles, California, private company to fill a gap in its luxury offering, defined as bottles retailing for $20 to $40....
>>> Read more: Australia's Treasury Wine tests tricky US market with $900 million purchase
(Reuters) -Top Australian wine producer Treasury Wine Estates has agreed to a $900 million buyout of U.S. rival DAOU Vineyards, increasing its exposure to a market that it has long struggled to dominate amid uncertainty about stalled exports to China.
Treasury, owner of the Penfolds and Wolf Blass labels, said it was buying the Paso Robles, California, private company to fill a gap in its luxury offering, defined as bottles retailing for $20 to $40....
>>> Read more: Australia's Treasury Wine tests tricky US market with $900 million purchase
