Accolade Wines is considering selling the famous Banrock Station winery in Australia's Riverland. An Accolade spokesperson confirmed to Australian media "that we are in the early stages of exploring a potential sale of Banrock Station, not the brand itself."
According to the company, 235 hectares (about 580 acres) of vineyards on two properties are up for bid. These were planted between 1993 and 1996 and are established with French and alternative grape varieties.
An annual average of 5,700 tons of grapes can be produced. The sales contract is to include a water license of 1.92 billion liters annually. The visitor center, two houses and warehouses are also included in the purchase price, according to broker Langley & Co.
The Wine Centre, Banrock Station Wetlands, Cellar Door and Café could be offered under a long-term lease, as is customary in Australia, in a so-called sale and lease-back transaction with Accolade Wines. The surrounding vineyards are close to wetlands, which provide a natural habitat for local flora and fauna. The existing facilities would continue to operate as before.
An important issue is the preservation of the estate's own wetlands. These provide carbon sequestration and help reduce the impacts of climate change. In total, the wetlands, including the Mallee Forest and lagoons, cover more than 1,000 hectares (about 2500 acres) and are a local lifeline in the valley.
Accolade Wines is one of the largest wine companies in the world, whose brands include Banrock Station, "Hardys" and other Australian and international brands, such as "Mud House" from New Zealand, "Kumala" from South Africa and "Anakena" from Chile. Since 2018, Accolade has been owned by investment firm Carlyle, which later also acquired Spanish cava producer Codorniu. Recently, Accolade sold its bottling center The Park in the United Kingdom. Expressions of interest for Banrock Station are open until Friday, May 5, 2023. PD