Fosters does about face on sale of its' wine division
Foster’s has scrapped plans to sell four Australian vineyards and a winery after reconsidering their importance to the group’s future strategy.
The company has already sold 20 of the 36 vineyards it had identified as being surplus to requirements, and confirmed that the Bailey's winery and vineyard at Rutherglen, Victoria had now been taken off the market.
The 150 hectare Guthries vineyard and 246 hectare Shulz vineyard, both on South Australia’s Limestone Coast, and the 59 hectare vineyard at Meridian Home on the New South Wales central coast, have all also been taken off the market.
The vineyards were saved after the company identified improvements in grape quality at the sites, as well as being deemed necessary for developing new products for release from next year as part of the group’s strategic brand planning.