Treasury steps up Tasmanian stake

2nd July, 2013 by Gabriel Stone

Treasury Wine Estates has become the latest producer to increase its investment in Tasmania, having signed a deal to purchase White Hills Estate from Brown Brothers.

TasmaniaLocated in Tamar Valley to the north of the island state, White Hills was established in 2004 and features 83 hectares of vineyard, including Pinot Noir, Chardonnay, Sauvignon Blanc, Riesling, Pinot Gris and Gewürztraminer.

Commenting on the deal, which was for an undisclosed amount but is expected to conclude at the end of July, Treasury CEO David Dearie noted its boost for the company’s “long term strategy of owning or controlling vineyards that supply grapes for our luxury portfolio.

“Over the last 18 months we have invested heavily in premium grape and wine production capacity globally, and this is a logical next step,” he added. “I’m particularly excited to be increasing our investment in Tasmania at a time when the region is becoming better known and much sought after around the world.”

Dearie highlighted Treasury’s “already strong” commitment to Tasmanian wine, noting that the state is already home to the group’s Heemskerk and Abel’s Tempest brands. In recent years Tasmania has also proved an important source of grapes for Treasury’s flagship brand, Penfolds.

Speaking to the drinks business last month, Penfolds’ chief winemaker Peter Gago noted that the state provided around 35% of the fruit for its Yattarna 2012 Chardonnay. For the 2010 and 2011 vintages he revealed that this proportion rose to as much as 90% Tasmanian fruit.

Despite this sale, Brown Brothers retains a stake in Tasmania with Tamar Ridge, which it bought in 2010, as well as Pirie and Devil’s Corner. In recent years other Australian producers have recognised the opportunity offered by this region, including Michael Hill-Smith MW, co-owner of Adelaide Hills producer Shaw & Smith., whose cousin Robert Hill Smith already owns sparkling wine producer Jansz.

Earlier this year, winemaker Andrew Pirie, who has been a major pioneer of Tasmanian wine since the 1970s, highlighted its attractiveness for high quality wine production as part of a drive to bring in foreign investment. 

“We’re one of the few regions of the world that’s still short of production,” he remarked of the healthy demand for Tasmanian wines, which in 2011/12 achieved an average export price per litre of A$13.16, compared to Australia’s national average of A$4.40.

Leave a Reply

Your email address will not be published. Required fields are marked *

Subscribe to our newsletters

Job vacancies

European Brands Sales Manager, Field Sales Managers and Executives

Amathus Drinks PLC
London, Brighton, E Sussex/Kent, Cornwall & Devon, GB

Commercial/Sales Manager

Crush Wines Ltd
Bremhill/Home office, GB

Wine Buyer

Adnams
Southwold, UK

Sales Manager - Scotland

Eurowines Ltd
Scotland

Sales Manager - North-West England

Eurowines Ltd
North-West England, UK

Sales Manager - London

Eurowines Ltd
London, UK

Key Account Manager - Grocery

Australian Vintage Limited
London (Croydon), UK

Key Accounts Manager - Impulse

Australian Vintage Limited
London (Croydon), UK

Business Development Manager

Regency Wines Ltd
North Devon & Somerset, UK

Sales Manager - North East England

Eurowines Ltd
Within 15-20 mile radius of York, UK

National Account Manager

Ehrmanns Wines
London, UK

London Account Manager

The Drinks Club
London, UK

London Sales Executive

Gourvid Limited
London and Greater London, GB

Logistics Administrator

Speciality Drinks Ltd
Park Royal, London, UK

Head of Sales - Hush Heath Estate

Hush Heath Estate
Kent/ London, UK

The Global Merlot Masters 2017

Deadline : 2nd May 2017

db Awards 2017

Deadline : 3rd May 2017

The Global Organic Masters 2017

Deadline : 2nd May 2017

The Global Sparkling Masters 2017

Deadline : 12th May 2017

Click to view more

Global Chardonnay Masters 2016

Now in its fourth year, the competition will identify the best Chardonnay from all around the world in every price range.

Rioja Masters 2016

Now in its fifth year, the competition will recognise and reward the finest Riojas on the world stage.

Fortified Masters 2016

Now in its third year, The Fortified Masters will reward the best fortified wines on offer.

The Global Malbec Masters 2016

the drinks business is proud to announce the inaugural Global Malbec Masters 2016.

Click to view more