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News
Barossa Valley Estate saved from administration
Delegat’s Group has saved Australian winemaker Barossa Valley Estate from administration with a AU$24.7 million buyout.
The deal should be completed by June this year. Delegat’s is a New Zealand winemaking group whose stable includes Oyster Bay.
The New Zealand Herald pointed out that less than two months ago the group also saved Matariki Wines and Stony Bay Wines from a similar fate, as well as having bought a number of other assets throughout New Zealand last year.
In the acquisition of Barossa Valley Estate, the group will gain a modern winery capable of processing 5,000 tonnes of fruit and 80 hectares in the heart of Barossa Valley including 41 hectares of vineyard and grape grower contracts.
The group’s managing director, Jim Delegat, said: “These wine styles are complementary to the group’s current business and provide an opportunity for substantial future sales growth globally.
“The acquisition of the assets of Barossa Valley Estate is an ideal fit with the group’s portfolio of high quality wine assets. We look forward to the opportunity of building one of the world’s great super premium Shiraz brands from the iconic Barossa region.”
The Australian brand is one of the Barossa Valley’s leading names producing Shiraz and Cabernet Sauvignon across a variety of price points, not least its “super premium” E&E label which retails for nearly AU$100 a bottle.