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TWE increases Yarra Valley presence with Accolade vineyard purchase

Photo RedFish BlueFish Creative

Treasury Wine Estates (TWE) has increased its Yarra Valley footprint following the acquisition of Accolade’s Beenak Vineyard for a cool $7 million.

The 55 hectare upper Yarra vineyard id planted with Pinot Noir and Chardonnay grapes suited both for table wine and sparkling wine production.

In an interview with the Australian Financial Review (AFR), TWE CEO Tim Ford said the acquisition was a response to higher demand for cooler climate wines.

“Vineyards producing Pinot Noir are of particular interest as we respond to the very strong consumer demand for our Coldstream Hills and St Huberts brands,” Mr Ford said to AFR.

“The opening of our new cellar door at Hubert Estate [in nearby Coldstream] has further enhanced demand for cool climate wines in the portfolio.”

The vineyard was planted in 1988 and is reportedly the source of some of the largest plantings of Pinot Noir and Chardonnay in the region.

 

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