Australian global winemaking and distribution business Treasury Wine Estates has reached an agreement to acquire wine business Frank Family Vineyards for $315 million.
Founded in 1992 by Rick Frank, the Frank Family Vineyards has a portfolio of sparkling award-winning luxury hand-crafted wines complementary to Treasury Wine Estates offering. The acquisition includes the Frank Family Tasting Room, the Benjamin Vineyard, and the S&J Vineyard.
Ben Dollard, Treasury Americas President commented, “The acquisition of Frank Family Vineyards represents an outstanding addition to the Treasury Americas brand portfolio and is another important step towards our ambition of becoming the premium wine market leader in the Americas. Rich, Leslie, and the entire Frank Family Vineyard team have built an outstanding legacy that we are excited to nurture for years to come. We are thrilled that Rich and Leslie will continue to be very involved and welcome the FFV team to Treasury Wine Estates.”
The transaction is expected to close in December 2021.
Source: Wine Industry Advisor