June 4 (Reuters) - Australia's Treasury Wine Estates said on Thursday that it was reviewing its Americas operations to improve returns and long-term shareholder value, sending its shares up more than 12% in early trade.
Shares of the company rose as much as 12.6% to A$4.640, heading for their best session since April 22 and hitting their highest level since May 25.
(Reporting by Rajasik Mukherjee; Editing by Subhranshu Sahu)
Treasury Wine Estates Limited is an Australia-based wine company. The Company is involved in the production, marketing and sale of wine. The Company’s segments include Treasury Premium Brands, Penfolds, and Treasury Americas. The Treasury Premium Brands segment is responsible for the manufacture, sale and marketing of wine within Australia, Asia, Europe, Canada, the Middle East and Africa. The Penfolds segment is responsible for the manufacture, sale and marketing of Penfolds wine globally. The Treasury Americas segment is responsible for the manufacture, sale and marketing of wine within North American and Latin America regions. In Australia, it owns and operates six wineries and one packaging facility with wines primarily produced in South Australia and Victoria. In New Zealand, it owns one winery located in Marlborough. Its brands include Penfolds, DAOU Vineyards, 19 Crimes, Drop of Sunshine, Frank Family Vineyards, Etude, Beaulieu Vineyard, and Seppelt.
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