SOUTH AFRICA: Anglo American to sell historic Boschendal winery

South African mining giant Anglo American has put its massive, historic Boschendal winery in the Franschhoek Valley on sale in the hope of attracting a serious international buyer.

No price has been placed on the property, but it is expected to be several hundred million Rand, given its size, the standing of the brand, the historical value of its buildings and its potential for development.

A total of 3004 hectares of ground, 2000 of which has been identified as highly suitable for viticulture, is now on the market as the mining house continues to divest of its non-core business in the Cape.

At present only about 350 ha of land are under vine but the company produced about 250,000 cases of wine last year and has a cellar capacity to produce about 400,000 cases.

Chairman of Amfarms, Michael Spicer, who is also an executive director of Anglo, said: "We have turned Boschendal into a premier private producer, which has phenomenal potential, but it is not part of our core business and will need a serious player to take it to another level.

"Boschendal offers a platform for a really big operation, given the room for expansion both in terms of vineyards as well as the cellar."

He continued: "We are developing a list of possible candidates, but we have literally only now decided to sell the property, so it is early days on where this is going.

"Boschendal is well established on the domestic market and has the best distribution network in the country, as well as a developed international market with a well known brand."