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SOUTH AFRICA: Top winery still on market

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A year after setting out on the road to sell its Boschendal Winery, Anglo American’s Cape farming subsidiary Amfarms has decided to split the offer for the massive concern to make it attractive to investors with different interests.

There have, over the past year, been a number of very serious suitors, who for one reason and another have not fitted into the profile of what Anglo see as suitable to drive the winery’s progress forward.

The historical winery, started in 1685, and purchased by Anglo in 1969, will now be split into the wine operation on 667 hectares of which about 300ha are under vine, together with the Mansion and cellar complex, while the remaining parcels will be sold for possible development schemes, said Don Tooth, MD of Amfarms.

“We realised at the outset that there were very few players out there who would have the resources to develop the whole property and take it to another level,” he said.

“It was made clear at the very beginning that this was not a fire sale and that it must be done as a positive business operation. One or two small parcels of land have been sold and we are again looking at a number of local and international offers.

If we can sell it as a complete unit that would also be great,” said Tooth.

Speculation in the industry is that the farm is on the market for about US$35m.


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