Treasury Wine Estates (TWE) has renewed its consultancy agreements with Frank Family Vineyards founders, Leslie and Rich Frank, for a further 12 months, on identical terms to the agreements that expired in December 2025.
Under the renewed arrangements, director Leslie Frank will receive $423,483 (US$300,000) per annum for her consultancy services, while Rich Frank will receive an allocation of TWE shares to the value of $141,161 (US$100,000) per annum.
The Franks have been retained by TWE in an advisory capacity since the company’s $434 million acquisition of Frank Family Vineyards in November 2021, which was designed to build its luxury chardonnay position and establish it as the third largest player in that segment in the US.
At the time of the acquisition, then-CEO Tim Ford said the ongoing involvement of Rich and Leslie Frank would guarantee the distinct style and quality of Frank Family Vineyards wines would not be compromised.
Leslie Frank joined the TWE board in June 2024. The consultancy terms were disclosed to the market at that time, with TWE noting they had been negotiated on an arms' length basis.
Frank Family Vineyards remains a key brand within TWE’s Treasury Americas division. In the first half of FY26, the brand was among those leading depletions growth ahead of the luxury category outside California, alongside DAOU and Stags’ Leap.
That performance came against a difficult backdrop for the division overall. Treasury Americas posted EBITS of $44 million in 1H26, with the result shaped by softer category conditions and disruption linked to the California distribution transition following the closure of distributor Republic National Distributing Company's California operations in September 2025. TWE subsequently reached a settlement with RNDC and flagged an improving second half as California execution stabilises.
The renewal of the Frank consultancy agreements signals TWE’s continued commitment to preserving the brand identity of its acquired luxury US labels as it works through the broader reset of its Americas business. TWE confirmed the arrangement to the ASX on 13 April 2026.
