Treasury Wine Estates buys DAOU Vineyards for upto US$1.0 billion

SYDNEY, AUSTRALIA: Treasury Wine Estates Ltd (TWE), the Australian wine company behind brands such as Penfolds and Beringer, has announced a major deal to acquire DAOU Vineyards, a leading luxury wine producer in California, for US$900 million. The deal also includes an additional payment of up to US$100m if DAOU meets certain sales growth targets…