Chinese investors pounce on Aussie winery9th May, 2013 by Rupert Millar
Australian winery Bleasdale at Langhorne Creek has been partially bought by Australian and Chinese investors.
Earlier this week it was announced that Australian business AJ & PA McBride has bought 38% of the winery, while long-term Asian distributor Monita, owned by Hong Kong importer Charles Poon and Raymond Ran has taken a 10% share.
The founding Potts family retain a 52% controlling share, with two members on the six man board, including managing director Peter Perrin.
Perrin told Australian newspaper, Adelaide Now: “The shareholders wanted to ensure the legacy of the brand and secure its unique estate status in Langhorne Creek and were prepared to look outside the family for investment.”
“We saw this as a time to inject new capital into the winery’s future growth.
“Monita has been an essential partner in our growth in Asia over the last few years, and we see this new relationship as paving the way for future expansion, particularly in China where Monita has office, warehouse and distribution facilities in the fastest growing market for Australian wine in the world.”
As well as the much publicised Chinese buying of Bordeaux châteaux, many companies and individuals have also been buying or investing in properties in Australia.
Other Chinese investors have been looking into the Hunter Valley, where it has been claimed that every winery sale in the region over AU$1.5 million in the last few years has been to Chinese buyers.
For more on Chinese investment in Australia, see this article from the drinks business Hong Kong.