French billionaire Olivier Goudet has increased his stake in Treasury Wine Estates to 7.13 per cent, up from 6.13 per cent previously. Treasury Wine Estates is a global wine company that owns brands such as Penfolds. The company is involved in viticulture, winemaking, and distribution.
Goudet, whose investment fund Platin first became a substantial holder in Treasury Wine late last year, recently visited Australia to review the wine group’s operations. He accelerated his buying activity over the past two trading days, investing $3.6 million to acquire additional shares. This follows steady purchases throughout February.
Goudet stated in an interview last Monday with The Australian Financial Review that he views Treasury Wine as undervalued. He described Platin as an “evergreen investor with an infinite amount of time.” Goudet emphasised a long-term investment approach, stating, “We don’t invest somewhere because we want to sell, we want value creation over the long term.”
