The deal was officially celebrated this week during a visit to Ningxia by TWE’s board of directors, led by CEO Tim Ford. During the visit, the delegation toured the winery’s facilities and vineyards in the Helan Mountain East Foothills, one of China’s most renowned wine-producing regions. The event culminated with a symbolic “raising roots” ceremony, representing TWE’s commitment to establishing a long-term presence in the region.
“We are thrilled to officially welcome Stone & Moon to the TWE family,” Ford said at the ceremony. “This partnership represents an exciting new chapter in our strategy and deepens our commitment to the Chinese wine industry. Ningxia’s exceptional terroir and the dedication of its local winemakers continue to impress us.”
TWE Chairman John Mullen echoed this sentiment, noting the enthusiastic reception from local officials and industry partners. “Our investment in Ningxia goes beyond capital. It’s about laying the groundwork for long-term success, nurturing local talent, and promoting sustainable growth in the region,” Mullen stated.
During the trip, TWE’s board met with Ningxia government officials to discuss the company’s development plans and the future of the wine industry in the area. The delegation also held discussions with key industry partners and customers, highlighting TWE’s collaborative approach and support for the global recognition of Ningxia wines.
The RMB 130 million (US$18 million) acquisition of the Stone & Moon Winery will play a pivotal role in Penfolds’ global winemaking strategy. The winery will support the production of Penfolds’ Chinese Winemaking Trial (CWT) 521, a luxury blend that combines grapes from both Ningxia and Yunnan, while maintaining Penfolds’ signature “House Style.”
This acquisition also aligns with TWE’s renewed efforts to expand its presence in China, following the recent removal of punitive tariffs on Australian wines. Since then, TWE has ramped up its marketing efforts and re-engaged with Chinese consumers.
China continues to be a key growth driver for Penfolds in Asia, contributing significantly to the brand’s global performance. In the first half of FY2025, Penfolds recorded a 50.4% increase in net sales revenue in Asia, totaling AUD 386.1 million (US$243.9 million), which accounted for 69.3% of the brand’s global sales.
TWE is also launching several initiatives to foster winemaking talent in China, including a Winemaker Immersion Program in collaboration with the China Alcoholic Drinks Association (CADA), COFCO, Australian Grape and Wine, and the South Australian government. In addition, the company is supporting youth education projects aimed at cultivating the next generation of Chinese wine professionals.
Australia’s Treasury Wine Estates (TWE) has finalized its acquisition of a 75% stake in Stone & Moon Winery, marking a significant step in the company’s ongoing investment in Ningxia and the broader Chinese wine sector.
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