Treasury Wine Estates (TWE) announced their $1bn acquisition of DAOU Vineyards at the end of October 2023.
The winemaker is one of the fastest-growing luxury wine brands in the United States, founded by brothers Georges and Daniel Daou in 2007 in Paso Robles, California.
TWE will buy the premium California winery for an upfront cost of $900 million, plus an earn-out agreement of up to $100 million, which applies if certain revenue targets are reached until the end of 2027.
This marks Treasury Wine Estate's fourth acquisition in two years, following the acquisitions of Chateau Lanessan, Frank Family Vineyards and Beenak Vineyard.
Read our report on the acquisition, which includes company profiles, market data, management commentary and strategic rationale.
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