Australian Vintage, a major ASX-listed wine producer, has exited its Balranald vineyard in NSW and sold another, Lyndoch in South Australia, to the Randall Wine Group just weeks after an emergency capital raising to keep the business afloat.
Originally part of the Chateau Yaldara property, Lyndoch will become part of Randall’s Seppeltsfield brand. It is planted with shiraz, cabernet sauvignon and grenache. CK Life Sciences told its investors that it had sold Balranald and its water rights for $40 million to Go.Farm, an Australian agricultural asset manager. Go.Farm,’s Street Talk column reported in May, is backed by the Costa family and Qantas Super and was raising $300 million this year.
“China’s demand for luxury Australian wines prior to the tariffs was very strong and the Lyndoch vineyard acquisition offered Seppeltsfield an opportunity to fortify our supply volumes of luxury wines for a thirsty market,” he said.“Our vineyard holdings in the Barossa Valley now exceed 4000 acres, growing 10,000 tonnes, producing nearly 10 million bottles of luxury wine every year.”