Accolade sells Nannup winery for undisclosed sum
Accolade Wines has reached an agreement with Fogarty Wine Group in the sale of its Nannup winery, divested for an undisclosed sum.
Both companies are set to produce wines at Nannup, located to the southeast of Perth. Accolade’s Houghton and Brookland Valley brands will continue to be produced at the winery, and at Fogarty Wine Group’s Margaret River sites.
The agreement will also see the two companies explore further cooperation opportunities around Australia, according to Foodbev Media.
Peter Fogarty, founder and executive chairman of Fogarty Wine Group, described the agreement as an opportunity to provide “synergies in processing while further improving the quality of all our wines”.
He said: “We welcome the opportunity to create this long-term relationship with Accolade Wines as we both have strong brands in Western Australia and a growing presence in Tasmania”.
Fogarty added: “Our businesses share a commitment to making some of the best-value wines alongside some of the very best ultra-premium cabernets and chardonnays that Margaret River and Australia produce.”
Fogarty Wine Group’s portfolio comprises of brands from six different regions of Australia: Dalwhinnie in the Pyrenees; Lake’s Folly in the Hunter Valley; Deep Wood Estate and Evans & Tate in Margaret River, Millbrook Winery in the Perth Hills and Smithbrook in Pemberton; and Lowestoft and Tasmanian Vintners in Tasmania.
Robert Foye, Accolade Wines CEO, said: “Through our agreement, Accolade Wines will have access to the Fogarty Wine Group’s ultra-premium wineries and a broader suite of assets in Western Australia and nationally, delivering opportunities across our combined networks for our brands and businesses”.
In other news, Australian wine giant Treasury Wine Estates (TWE) recently purchased the 55-hectare Beenak Vineyard in Yarra Valley from Accolade for AUD$7 million.
The Yarra Valley-based vineyard is planted with 45 ha of Pinot Noir and Chardonnay grapes, and expands Treasury’s footprint in cool-climate winemaking, as TWE’s chief executive Tim Ford noted. Read more on that here.