California wildfires hit Treasury Wines

Treasury Wine Estates says wildfires have caused limited damage to its assets in northern California, but the company still has only limited access to the area.

Wildfires raging across northern California have caused what Treasury Wine Estates calls "limited damage" to its assets in the region.

Treasury owns and operates about 3,750 planted hectares of vineyards in the US, including in the fire-hit Sonoma County and Napa Valley.

But the company on Tuesday said most of its vineyards and wineries are not directly in fire zones at present.

"At this stage, there is limited damage to TWE's infrastructures and sites, however the fires are ongoing, and TWE still has limited access to all of its different assets," the company said in a statement to the ASX.

Treasury said most of its grapes have already been picked, with just over 10 per cent of the total vintage still to be picked in Sonoma and Napa.

Treasury said its focus was ensuring that all employees were safe.

The company assets in the area include vineyards, wineries, cellar door facilities and packaging operations linked to its US labels Sterling, Beringer, Stag's Leap, Chateau St Jean and Beaulieu Vineyard.

Treasury shares were down 25 cents, or 1.8 per cent, at $13.95 at 1505 AEDT.

The wildfires sweeping through California wine country have so far killed 10 people and destroyed at least 1,500 homes and businesses.

Fourteen large fires are burning across a 200-mile region north of San Francisco.


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Source: AAP


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