The sale also includes the Souverain wine brand and inventory, as well as co-located vineyard assets. TWE will further enter into a long-term leaseback of part of the vineyard that has traditionally provided TWE with Luxury fruit.
TWE has made a loss of approximately US$7.5M, but hopes that the decision will help support wider plans to optimise its overall supply chain to accelerate growth in the company’s Luxury & Masstige versus Commercial wine portfolios globally.
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