AUSTRALIA: Yalumba gears for winery expansion
Family owned Australian winery Yalumba is to spend over A$20m (US$14.6m) on a new winery capable of crushing 25,000 tonnes of grapes in South Australia's Barossa.
Its existing nearby facility will be scaled back to 15,000 tonnes. Work will start in the New Year. Yalumba, one of the few remaining family owned Australian wineries of substance has sales of around A$100m (US$73m) a year.
Co-owner (with his brother) and managing director Robert Hill Smith says the company is to place increased emphasis on premium lines. He says he has no intention of either selling or going public.
"The wine industry is not particularly well suited to the public arena because it is cyclical, cycles which "are a lot longer than the concentration span of a bonused analyst at a broking house."
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