Coke Offers Lesson to Grange-Maker Treasury With New CEO at Helm
This article is for subscribers only.
Treasury Wine Estates Ltd., maker of $900-a-bottle Grange, is planning to learn lessons from Coca-Cola Co. and Kraft Foods Group Inc. as it lifts advertising spending to arrest falling earnings.
The company will look to cut management costs and sell under-utilized wineries and packaging plants to raise cash to spend on marketing, Chief Executive Officer Mike Clarke said in an interview yesterday. Clarke took over March 31 after 17 years at food and drink companies including Coca-Cola and Kraft.