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Treasury sells US vineyard at $7.5m loss

2015-07-21 13:34:55| Beverages - Topix.net

Treasury Wine Estates has sold its Asti Winery, Souverain brand and vineyard assets in California to E.& J. Gallo Winery at a loss, as it continues to restructure its business. While the sale price was not disclosed, the Australian-based winemaker said it would book a pre-tax loss on the transaction of about US$7.5 million.

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