Treasury Wine Estates completed the acquisition of a 75% stake in Stone & Moon Winery from Yinchuan Tianhetongxia Agriculture Tech and Paul Kang for CNY130m.

Treasury Wine Estates, a global winemaking and distribution company, completed the acquisition of a 75% stake in Stone & Moon Winery, a premium winery, from Yinchuan Tianhetongxia Agriculture Tech, a Chinese agricultural technology firm, and Paul Kang for CNY130m. "Through this acquisition, we will further strengthen our commitment to, and investment in, the China wine industry, where Penfolds continues to be a highly admired and sought after brand. The successful evolution of Penfolds to becoming a multi-country of origin brand has been a significant execution highlight in recent years, with the China sourced portfolio having resonated particularly strongly with Chinese consumers, and we look forward to continuing that momentum through this important long-term investment," Tim Ford, Treasury Wine Estates CEO.