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AAP
AAP
Jacob Shteyman

Treasury buys luxury Californian vineyard in $1.6b deal

Luxury California Treasury Wine Estates Penfolds United States
Treasury Wine Estates will expand in the US with a key acquisition. (HANDOUT/TREASURY WINE ESTATES)

Treasury Wine Estates will buy luxury Californian winemaker DAOU Vineyards in a $US1 billion ($A1.6 billion) deal as it continues to expand into the North American market.

The Penfolds owner, which already boasts several US brands, says acquiring DAOU will fill a luxury wine-shaped gap in the group's North American portfolio.

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