AUS: Foster's sells vineyard to Oatley Wines
Foster's Group has sold an 862-hectare vineyard to Oatley Wines for an undisclosed sum.
The Cumbandry vineyard near the New South Wales town of Mudgee had been used to supply fruit for the Rosemount label, and includes 500 hectares of Shiraz, Chardonnay, Merlot and Traminer grapevines.
The purchase, which is yet to close, will more than double Oatley's vineyard holdings, which currently comprise 468 hectares across seven properties.
The sale is the first major asset disposal by Foster's since it announced plans to shed 33 wine properties earlier this year, including 7200ha of vineyards. The small Beavis vineyard in Victoria's Yarra Valley was sold in August.
A tender process to sell each of the properties has now been completed and Foster's is negotiating final terms with potential buyers.
A strong Australian dollar has made Foster's Group half-year wine figures look worse than they are....
To say that Scotch whisky holds sway in the super-premium whisky sector would be a supreme understatement. Sales in the upper price tiers among whisky distillers in the US, Canada and Ireland are dwar...
The CEO of Molson Coors has said that the brewer is on the lookout for "smart" acquisitions....
Foster's Group may still look to sell its wine business, but the group has received no offers for either that or its more successful beer arm, CEO Ian Johnston has said....
- Craft spirits shake-out will be just the beginning
- The decline of the flagship beer brand - Comment
- Job cuts not the whole story at AB InBev - Comment
- How Treasury is rewriting the rule book - Comment
- Interview- Veltins export manager Udo Bruns
- Diageo revamps Gordon's gin bottle in UK
- Diageo brands need "fixing and nurturing" - TWE
- Craft Brew Alliance poised for AB InBev takeover?
- SAB shareholders granted AB InBev vote split
- Pernod deal rescues Corby's FY
- The Next Seven Big Beverage Markets
- Global rum insights - market forecasts, product innovation and consumer trends
- Global RTD insights - market forecasts, product innovation and consumer trends
- Carlsberg AS (CARL B) - Financial and Strategic SWOT Analysis Review
- Adultifying Soft Drinks; Capitalizing on rising adult demand for non-alcoholic beverages