Treasury Wine Estates positions Penfolds for its next phase of growth

Extending Penfolds enduring legacy as a trusted winemaker synonymous with quality wines made from multiple esteemed sourcing regions of Australia, Treasury Wine Estates (TWE) today announced important innovations that will nurture this legacy and further enhance the Penfolds global footprint.

Firstly, the Penfolds Winemaking Team will now bring the best of the best Napa Valley grapes to its stable, crafting authentic Penfolds wine styles from the California 2018 harvest onward. This builds on a proven and credible pedigree that dates back to vine cuttings brought to Adelaide by Dr Christopher and Mary Penfold in 1844, and more recently Kalimna cuttings taken to Camatta Hills vineyards in California in the 1990s.

As an exponent of multi-regional sourcing, Penfolds continues to preserve a formidable reputation for remaining uncompromising on crafting wine to consistent quality, not quantity benchmarks.

Penfolds Chief Winemaker, Peter Gago commented: “Our Penfolds House Style certainly allows and embraces the freedom to explore premium viticultural regions across the world. We are striving to add outstanding Californian-sourced wines to our offering by fiscal 2022.”

Secondly, continuing the pioneering experimentation that has seen the Penfolds stable expand throughout its history through the creation of many tiers including its famous Bins (in particular Bin 95 Grange) and in recognition of the brand’s heritage in fortified wines, TWE also today announced a new range, Penfolds Special Bottlings:

• The first release of Penfolds Special Bottlings is Lot. 1990 – a Pot Distilled 28 year old Single Batch Brandy, available from today
• The second release, Lot. 518 is a Spirited Wine – a premium fortified Barossa Shiraz (94%) enlivened with Baijiu; scheduled for release in September 2018
• The third release which further builds on the brand’s credentials as a multi-country sourced brand, is a Champagne, expected to be released in calendar year 2019 – in time for the celebration of Penfolds 175th anniversary year

Mr. Gago further commented: “The Penfolds winemaking team is delighted to engage in a profound expansion of our core range, while preserving Penfolds DNA and at the same time, building upon the creativity, ingenuity and boldness of our winemaking ancestry. This will broaden our base and help future-proof Penfolds.”

In announcing the innovations, TWE’s Chief Marketing Officer, Michelle Terry said: “The news we have shared today represents a significant leap forward for Penfolds as we extend the brand’s rich and powerful past to innovate, create and preserve for the future.

These extensions will consolidate Penfolds as a luxury brand that transcends beyond its existing sourcing regions and categories; positioning it for its next chapter.”

TWE’s Chief Executive Officer, Michael Clarke added: "Today’s news on Penfolds signifies another important step on Treasury Wine Estates’ journey to invest in and build true trust marks; expanding the Penfolds stable to include brandy, spirited wine and multi-country sourcing. Innovation of this nature plays a critical role in driving long term, sustainable growth for the Company as we broaden brand appeal and offerings to consumers around the world. Multi-region and multi-country sourcing brings excitement and energy into established brands and at the same time, strengthens TWE’s ability to deliver consistent, quality wine year on year; regardless of vintage variation. What we have announced for Penfolds is just the start of a much larger agenda we have to deliver continued growth."

TWE remains in blackout until the Company announces its F18 results on 16 August 2018.

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