Treasury Wine Acquires Frank Family Vineyards for $315M
Treasury Wine Estates Limited (TWE) recently reached an agreement to acquire Frank Family Vineyards (FFV) in the Napa Valley at a transaction value of $315 million. FFV is a wine business with a strong revenue track record and EBITS growth in addition to EBITS margins in the range of 35 to 40 percent.
The FFV portfolio is complementary to Treasury Americas, filling a key portfolio gap for luxury chardonnay. The acquisition is expected to be completed next month, with a commitment to ongoing involvement in the Treasury Americas business by FFV’s founders Rich and Leslie Frank. TWE has substantially completed its program to divest non-priority U.S. portfolio brands and assets, with total net cash proceeds of $300 million (Australian).
“This is a rare opportunity to acquire a luxury brand and portfolio of wines that consumers enjoy and connect with,” says Tim Ford, chief executive officer of TWE. “This business has a proud and consistent history and proven track record of success, having been expertly built and led by Leslie and Rich. This is a compelling strategic and financial investment, comfortably meeting our investment criteria and one we expect will deliver attractive growth and financial returns for TWE’s shareholders over the long term.”
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.