Aussie wine icon may soon be rather less Australian

Treasury Wine Estates, is the subject of takeover offers that locals in South Australia's famed Barossa Valley are watching cautiously.

Aussie wine icon may soon be rather less Australian

Another Australian icon looks set to fall into foreign hands.

 

Penfolds Grange is widely regarded as Australia's premier red wine, but it and a range of related wines may soon be a little less Australian.

 

Penfolds' owner, Treasury Wine Estates, is the subject of takeover offers that locals in South Australia's famed Barossa Valley are watching cautiously.

 

It comes as the financially troubled wine group posted a full-year loss of $100 million, a sharp dive on the previous year's $47 million profit.

 

Karen Ashford reports.