Penfolds

Penfolds is the star in the crown of Treasury Wine Estates (TWE) but its history predates the formation of TWE by close on 170 years. Its shape has changed in terms of its vineyards, its management, its passing parade of great winemakers and its wines. There is no other single winery brand in the New or the Old World with the depth and breadth of Penfolds. Retail prices range from less than $20 to $1000 for Grange, which is the cornerstone, produced every year, albeit with the volume determined by the quality of the vintage, not by cash flow. There is now a range of regional wines of single varieties and the Bin Range of wines that includes both regional blends and (in some instances) varietal blends. Penfolds is a red wine producer at heart, but its Yattarna and Reserve Bin A chardonnays are the quality equal of anything the company produces. -JAMES HALLIDAY