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Treasury Wine sharpens focus in U.S.
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Treasury Wine Estates Ltd. is making another big run at the U.S. market, after overly rosy estimates about demand there a few years ago led the Australian wine producer to famously dump thousands of gallons of unsold inventory. Now Treasury is focusing on pricier wines in the $10 to $100-plus range a bottle, rather than popular but cheaper wines such as its $6 a bottle White Zinfandel. Treasury is the world's eighth-largest wine producer by volume, according to data provider Euromonitor International.