Treasury Wine quashes US sale talk

Maker of Penfolds says it is not in discussions with Constellation Brands.

Treasury Wine Estates (TWE) has poured cold water on fresh media reports about a possible sale of its embattled US operations.

The maker of Penfolds said it has not been approached by, and is not in discussions with, Constellation Brands about its US business.

TWE said it has no intention of selling its US operations and sees that market as a key part of future growth.

Earlier this month, TWE denied it was approached by liquor giant Pernod Ricard about the sale of its US assets.