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Treasury Wine sells California vineyard

2015-07-21 05:15:10| Beverages - Topix.net

Treasury Wine Estates is selling its Asti Winery in California to E&J Gallo Winery as part of its efforts to cut costs. The company on Tuesday said it would make a $US7.5 million loss on the transaction, which will be recognised in its 2014/15 full year results, but didn't give a value for the deal.

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