Treasury Wine Estates Ltd (TWE), one of the world’s largest wine companies, listed on the Australian Securities Exchange (ASX), announced that the company has entered a long-term distribution agreement with Republic National Distributing Company (RNDC).
The agreement will cover distribution in multiple markets, effective as early as July 1, 2021 in California, with other states including Texas, Louisiana, Oklahoma, Kentucky, Mississippi, Utah, Wyoming, and Nebraska. Presently, RNDC distributes Treasury’s portfolio in Michigan, Georgia, and New Mexico.
Ben Dollard, TWE Americas president states, “We are in a position of growth and our premium and luxury wines are out-pacing the market. Our innovation continues to be a highlight, specifically 19 Crimes and the Snoop Dogg collaboration, and the launch of the Penfolds California Collection are great recent achievements. With our divestiture of commercial wine brands, we decided to reevaluate our business needs to position our company for future growth. Over the past several years, we have built meaningful relationships with key retailers. Our decision to partner with RNDC presents us a terrific opportunity to cultivate our trade partnership, to fast track growth, execute our plans, and build long-term value.”
“Treasury Wine Estates has an impressive portfolio of luxury wineries, including Penfolds, Beaulieu Vineyards, Beringer, Stags’ Leap Winery, and Etude, and have led the market through brand building and innovation,” said Tom Cole, RNDC chief executive officer. “As collaborative brand builders ourselves, we are confident that RNDC is the right partner for TWE to drive growth in key markets for these award-winning wines.”
