Treasure Wine Estates will close its Karadoc winery – used to make budget wines such as 19 Crimes and Wolf Blass – and instead focus on its premium and luxury brands, putting 60 jobs on the line.
Penfolds maker Treasury Wine Estates will shut down one of its Victorian wineries used to make budget brands such as 19 Crimes and Wolf Blass and sell two vineyards, putting 60 jobs on the line as the popularity of cheaper wine continues to decline.
The ASX-listed global wine exporter said it expected commercial-brand wine volumes at the Karadoc site, slated to close in mid-2024, to fall to 60 per cent of its production capacity in coming years, while 70 per cent of costs would remain fixed.
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