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Treasury Wine Estates Ltd (ASX: TWE) acquires Frank Family Vineyards for US$315m.

Treasury Wine Estates Ltd (ASX: TWE) has announced it has reached an agreement to acquire Frank Family Vineyards (FFV) in the United States for the transaction value of US$315m, implying an EV/F21 EBITDAS acquisition multiple of 13.2x, favourable to both current TWE and historic luxury wine transactions multiples. The FFV portfolio is highly complementary to Treasury Americas, killing a key portfolio gap for luxury chardonnay, and Treasury Americas is well placed to enhance FFV’s growth given its leading luxury sales credentials, national distribution network and Californian asset base and sourcing model.

Shares of Treasury Wine Estates Ltd traded 2.71% higher at $11.56/share following the announcement.

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