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HK firm buys McWilliams vineyards
Hong Kong firm, CK Life Sciences, has bought three vineyards from one of Australia’s oldest winemakers, the McWilliam family for A$15.7 million.
The deal covers 700 hectares of land, 650 of which are planted with vines. The vineyards include the Hanwood Vineyard in Griffith, New South Wales, the first vineyard planted by John James McWilliam over a century ago, as well as the Station and Kirkgate vineyards in Coonawarra.
Under the terms of the agreement according to Queensland Country Life, McWilliams Wines Group will rent the vineyards for 15 years.
The acquisition is the Hong Kong group’s sixth in Australia and it now boasts a portfolio of over 8,000ha. CK Life Sciences also has the majority ownership of Belvino Investments, which owns 4,600ha of vineyards in Australia and another 1,100ha in New Zealand.
CK Life Sciences is a developer and marketer of agriculture-related products and is a subsidiary of billionaire Li Ka-shing’s Cheung Kong Holdings.