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Treasury Wine Estates goes for brand, not land

Thursday, November 20, 2014 - 05:50
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Treasury Wine Estates' Yellowglen XV Piccadilly 2004.

Sydney

MANY vintners would love to own enough wine country to cover Manhattan twice over. Not Treasury Wine Estates, maker of the US$850-a-bottle Penfolds Grange.

"We don't have to own all the vineyards," said Mike Clarke, a former Coca-Cola executive who took over in March as

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