Diageo has sold its U.S.–based Chateau and Estate Wines, as well as the UK-based Percy Fox businesses for $552 million to Treasury Wine Estates. “Diageo’s strategy is to drive stronger, sustained performance through focus on our core portfolio and today’s announcement is another element of that strategy in action. Wine is no longer core to Diageo and this sale gives us greater focus,” said Chief Executive of Diageo, Ivan Menezes. U.S. brands include Beaulieu Vineyards, Sterling Vineyards, Acacia, Provenance and Hewitt, among others. The transaction is expected to close at the end of 2015.