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KKR’s Spurned Offer for Treasury Puts Focus on Penfolds
date:Jul 15, 2014
KKR Co.s spurned $2.9 billion offer for Treasury Wine Estates Ltd., owner of the acclaimed Penfolds label, raises an intriguing question: How does a publicly traded vintner juggle quarterly earnings targets with producing some of the worlds finest wines?

Treasury is in play four months after the Australian company, the worlds second-biggest listed winemaker, installed Mike Clarke as chief executive officer. The former Kraft Foods Group Inc. executive was brought in to start an efficiency drive

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