Private equity boss Ben Gray and Yarra Capital’s Dion Hershan bought the Mornington Peninsula winery from Treasury Wine Estates.
Prominent Melbourne fund managers Ben Gray and Dion Hershan have joined forces to buy one of the Mornington Peninsula’s top boutique wineries, T’Gallant Wines in Main Ridge, from wine giant Treasury Wine Estates.
T’Gallant was acquired for more than $3 million in 2003 by Foster’s wine division, which split and listed as Treasury Wine Estates in 2011. “In October, TWE completed the sale of T’Gallant on the Mornington Peninsula to financial investors, who will licence the brand to re-open the T’Gallant cellar door and restaurant in 2023,” Mr Ford said.and Mr Hershan, executive chairman and head of equities at fund manager Yarra Capital, declined to comment.
In May, former Rich Lister Radek Sali sold his hobby farm in Flinders, which includes a 4.5ha organic vineyard, for $23.5 million to“The market in the Mornington Peninsula wine region remains strong, largely underpinned by the strong rural lifestyle market due to the Peninsula’s proximity to Melbourne and popular beach destinations,” wrote Herron Todd White valuer John Gunthorpe in the firm’s latest monthly report.
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