Foster's Puts Vineyards on the Block

    Drinks giant Foster’s has put 31 Australian vineyards on the market, despite the tough economic conditions.

     Hoping to defy the global downturn, the company is offering 4,000 hectares in Australia in the wake of the company’s strategic review of its wine assets in February. The Australian Financial Review estimates the portfolio’s value as $243 million.

     The majority of vineyards are in South Australian regions, including Coonawarra, McLaren Vale, Clare Valley and Eden Valley.

     Vineyards in Victoria’s Yarra Valley and Glenrowan also are on the market, alongside others in Hunter Valley and drought-stricken Murray Darling, New South Wales.

     A further 1,000 hectares in the United States also are for sale, Decanter reports.

Posted in The Wine Business
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