New Leadership At Treasury Wine Estates: Diageo Veteran Sam Fischer Named CEO
In case you missed last night’s news alert, Treasury Wine Estates has announced a leadership transition set to take place this fall, with Diageo veteran Sam Fischer becoming CEO effective October 27. Fischer will succeed Tim Ford, who has spent 14 years with Treasury, including five as its chief executive, and will continue in his current role until September 30.
According to Impact Databank, Treasury ranks as the world’s eighth-largest wine marketer, with volume of approximately 28 million cases. Globally, Treasury saw sales grow 4% organically to A$2.7 billion ($1.8b) with EBITS up 3.6% to A$658 million ($435m) in the year through last June.
Fischer spent 15 years with Diageo, including as President, Asia Pacific & Global Travel and as a member of the Diageo’s global executive committee, reporting to the CEO.
He’s currently CEO of Kirin-owned Lion, whose portfolio includes beer, wine, spirits, and RTD offerings and has operations in Australia, New Zealand, and the U.S. Earlier in his career he held leadership roles with Colgate Palmolive across Southeast Asia and Eastern Europe.
“With over 30 years of global leadership experience, Sam brings proven CEO credentials, exceptional strategic acumen, and deep expertise in alcohol beverages, consumer goods, and luxury brand building, accompanied by a strong track record of driving business growth,” said Treasury chairman John Mullen.
Ford’s tenure has been characterized by a reshaping of the Treasury portfolio to premiumize and streamline its offering. Among the key moves under Ford’s watch, Treasury acquired Paso Robles-based Daou for up to $1 billion in 2023, and in 2021 added Napa Valley’s Frank Family Vineyards to its range in a deal worth $315 million. Also in 2021, the company offloaded Kenwood, California’s Chateau St. Jean to Foley Family Wines & Spirits.
The premiumization drive has yielded dividends, with the luxury tier now accounting for 56% of Treasury’s net sales. And the group’s luxury wines continue to drive gains, rising 18% organically in the six months through December.
Further culling of lower-priority labels was in the offing, as Treasury last year said it would put commercial brands including Wolf Blass, Yellowglen, Lindeman’s, and Blossom Hill on the market. But in February it scrapped those plans, having failed to secure satisfactory offers.
In the U.S., the Daou acquisition in particular has been driving Treasury’s growth. Daou is now Treasury’s leading luxury brand in the U.S. and third-largest overall in volume terms, up 4.5% to 725,000 cases in calendar 2024, according to Impact Databank.
Boosted by the addition of Daou, Treasury’s Americas division posted net sales up 42% at constant currency to A$631 million ($395m) in the six months through December, as volume rose 22% to 3.4 million 9-liter cases and EBITS jumped 67% to A$155 million ($97m). SND recently spoke with Treasury Americas president Ben Dollard on the outlook for the U.S. business.—Daniel Marsteller
| Treasury Wine Estates—Top 12 Brands in the U.S. (Thousands of 9-liter case depletions) |
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| Rank | Brand | Origin | 2023 | 2024 | Percent Change1 |
|
|---|---|---|---|---|---|---|
| 1 | 19 Crimes | Australia/California | 2,081 | 1,766 | -15.1% | |
| 2 | Matua | New Zealand | 841 | 856 | 1.8% | |
| 3 | Daou | California | 694 | 725 | 4.5% | |
| 4 | Lindemans | Australia | 549 | 488 | -11.0% | |
| 5 | Sterling Vintners Collection | California | 434 | 388 | -10.5% | |
| 6 | Frank Family Vineyards | California | 159 | 166 | 4.3% | |
| 7 | Gabbiano | Italy | 160 | 164 | 2.7% | |
| 8 | The Pessimist | California | 144 | 127 | -11.9% | |
| 9 | Stag’s Leap | California | 128 | 126 | -1.5% | |
| 10 | Beringer Brothers | California | 110 | 105 | -4.8% | |
| 11 | St. Huberts | California | 89 | 79 | -10.6% | |
| 12 | Beringer Knights Valley | California | 63 | 67 | 6.3% | |
| Total Top 122 | 5,451 | 5,058 | -7.2% | |||
| 1 Based on unrounded data. 2 Addition of columns may not agree due to rounding. Source: IMPACT DATABANK © 2025 |
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Tagged : 19 Crimes, Daou, Matua, Treasury Wine Estates
