Wine Never Cheaper as Bidders Circle Foster’s Spinoff

Wine Never Cheaper as Bidders Circle Foster’s Spinoff

Carla Gottgens/Bloomberg

Pedestrians walk past the headquarters of Foster's Group Ltd., in Melbourne, Australia. Earnings at Treasury Wine, which cost Foster’s at least $8 billion to build, have fallen in the past two reported years as demand stalled, a global glut of grapes pushed down prices and the Australian dollar’s rally reduced its operating margin to the lowest of any producer outside Japan.