SYDNEY Aug 21 Australia's Treasury Wine Estates
Ltd, which is the subject of two $3.1 billion takeover
proposals, is considering making acquisitions in the United
States to accelerate growth, chief executive officer Mike Clarke
said on Thursday.
Clarke said the company is considering "organic and
inorganic" growth opportunities in the United States after
swinging to a A$100.9 million net loss for the year to June 30,
from a net profit of A$47.2 million the previous year.
"We believe that there is an opportunity to accelerate our
growth, particularly in the area of masstige and luxury in
America," Clarke said, referring to the company's mass prestige
"It could be acquisition, it could be alliance, it could
take a number of different forms. You can rest assured it's
going to be financially accretive."
The annual net loss included a A$281 million impairment
charge on the valuation of historic acquisitions, particularly
in the United States, where the previous year it made writedowns
for destroying thousands of cases of unsold wine.
(Reporting by Byron Kaye; Editing by Stephen Coates)