Wine company Delegat's Group has bought the assets of Australian winemaker Barossa Valley Estate for about $30 million from its receiver.
In what is Delegat's first offshore acquisition, the purchase includes a modern 5000-tonne winery, a 41-hectare vineyard on 80 hectares of land in the heart of South Australia's Barossa Valley and grape grower supply contracts.
Delegat's Group is acquiring both the Barossa Valley Estate and E&E brands.
Managing director Jim Delegat says the purchase will be funded through existing bank facilities.
The Barossa Valley is internationally recognised for producing world-class Shiraz and Mr Delegat says the company wants to build the winemaker's brand into one of Australia's super premimium wine brands.