AUS: Foster's to offload three wineries
Foster's Group has said it intends to sell one French and two Australian wineries, as well as surplus production and packaging facilities as it consolidates winemaking at key regional sites.
The facilities, Rosemount Denman in the Upper Hunter Valley, Seppeltsfield in the Barossa Valley, selected facilities at Penfolds Nuriootpa in Australia and Domaine La Motte in the Languedoc Rousillon region in France, will be prepared for sale in the coming months.
The planned sales are part of a consolidation of the Southcorp and Beringer Blass Wine Estates production facilities, Foster's said.
"Over the last 12 months we have transformed Foster's into one of the world's leading premium wine producers" said Jamie Odell, managing director, Foster's Wine Estates. "The sale of these facilities will allow us to consolidate wine making at our most technologically advanced, flexible and efficient facilities."
Foster's will retain associated brands, although the Seppeltsfield fortified brands will be sold. Subject to buyer interest, Foster's will also consider selling the James Herrick brand. The company will continue to produce the majority of Penfolds premium red wines at the purpose built Nuriootpa winery.
"We are committed to growing the famous Penfolds, Rosemount, and Seppelt labels from truly world class facilities," Odell added. "A combination of winemaking expertise, access to the best regional vineyards, and flexible and advanced production facilities gives us a competitive edge in building these great Australian brands."
The asset sales will not affect regional vineyard holdings or grape sourcing agreements, Foster's said. Cellar doors will remain for each brand at Nuriootpa and Magill Estate (Penfolds), McLaren Vale (Rosemount) and Great Western (Seppelt).
In this month’s just-drinks interview, Olly Wehring spoke with Jamie Odell, managing director of Foster’s Wine Estates, about the Australian wine glut, the takeover of Southcorp and his company’s futu...
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