The ASX-listed producer behind McGuigan and Tempus Two will exit one property in NSW and sell another in South Australia to its privately owned rival.
Australian Vintage, a major ASX-listed wine producer, has exited its Balranald vineyard in NSW and sold another, Lyndoch in South Australia, to the Randall Wine Group just weeks after an emergency capital raising to keep the business afloat.
Originally part of the Chateau Yaldara property, Lyndoch will become part of Randall’s Seppeltsfield brand. It is planted with shiraz, cabernet sauvignon and grenache. CK Life Sciences told its investors that it had sold Balranald and its water rights for $40 million to Go.Farm, an Australian agricultural asset manager. Go.Farm,’s Street Talk column reported in May, is backed by the Costa family and Qantas Super and was raising $300 million this year.
“China’s demand for luxury Australian wines prior to the tariffs was very strong and the Lyndoch vineyard acquisition offered Seppeltsfield an opportunity to fortify our supply volumes of luxury wines for a thirsty market,” he said.“Our vineyard holdings in the Barossa Valley now exceed 4000 acres, growing 10,000 tonnes, producing nearly 10 million bottles of luxury wine every year.”
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
British designers look to Caribbean in their shows at Paris fashion weekGrace Wales Bonner and Bianca Saunders both reference vintage, mid-century Caribbean style and visual sensibilities
Read more »
Olé! Joel Meyerowitz’s vintage European road tripTaking a trip across the continent – and snapping people in a speeding car at 100km an hour – taught the legendary photographer how to really see things
Read more »
Billionaire Clive Palmer axes plans for huge Sunshine Coast vintage car museum at 11th hourThe Sunshine Coast Council was due to vote on the controversial project, but Mr Palmer's company withdrew the development application hours beforehand.
Read more »
We live in a vintage 87sqm trailer by the beach for $7,700 a month7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.
Read more »
Make sure you give it a sniff: how to buy a stylish men’s vintage coatFashion professionals share their tips for shopping for a secondhand men’s winter coat – and what to do about any strange or musty smells
Read more »
Riders recreate historic first Australian Motorcycle Grand Prix for centenary celebrationsMore than 400 riders are set to recreate the first Australian Motorcycle Grand Prix on various vintage machines south of Goulburn, but 100 years later speed is not the driving factor.
Read more »