Foster’s wine rebrands as Treasury

Australian drinks group Foster’s has rebranded its global wine business as Treasury Wine Estates.

The name change will be adopted by the UK-based European arm Foster’s EMEA as Treasury Wine Estates EMEA. The group owns 20 wineries and 50 wine brands including Wolf Blass, Rosemount, Wynns, Penfolds, Beringer and Lindemans.

A demerger of Foster’s wine and beer businesses has been on the cards for some time but chief executive Ian Johnston said the change “does not pre-empt any outcome for our demerger, nor does it represent any fundamental change in our business model”.

Johnston added: “It does represent the acceleration of a cultural change for those of us working in the wine business as we return to a dedicated focus on viticulture, winemaking and marketing.”?He said the new name reflected “the wealth of treasured wine brands which mark the core of our business”.