Australian wine group Accolade Wines is looking to sell its Banrock Station vineyards near Adelaide.
The company said the Banrock Station brand will not be part of the sale but the wetland and wine centre, the cellar door and café are set to be snapped up.
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The 235-hectare vineyard includes Shiraz, Cabernet Sauvignon, Semillon and Chardonnay grape varieties, among others.
A spokesperson for Accolade told Just Drinks: “Under any sale-and-leaseback arrangement, we would continue to operate the wine centre, cellar door and café as we do today.
“We will also continue to fulfil our long-term commitment to preserving the historic Banrock Station wetlands just as we have over the past 25 years. Under any scenario, the Banrock Station brand would remain part of the Accolade Wines portfolio.”
The company also noted sale-and-leaseback transactions are “increasingly common” in the Australian wine industry.
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By GlobalData“The Banrock Station brand is a vital part of our global growth strategy, and we remain committed to building on its proud history of environmental preservation and its tradition of crafting great tasting wines,” the spokesperson added.
Accolade, the owner of brands including Hardys, Petaluma and Jam Shed, has sold several assets in recent months, including its Stonier brand to Circe Wines in December. The group has also offloaded Brookland Valley Estate, its Nannup winery, its Beenak vineyard and 155 acres of vineyards near the McLaren Vale.
In November last year, Accolade CEO Robert Foye said wine drinkers in Europe were changing what they buy due to pressure on consumer spending. He was quoted as saying: “The cost-of-living crisis is definitely starting to have an effect.”
