Kiwi Delegat's Group buys Barossa Valley Estate vineyard for $24.7 million
The New Zealand family company behind the Oyster Bay wine brand, Delegat's has purchased the assets of Barossa Valley Estate for $24.7 million.
Woolworths along with Chinese investors were pinpointed as possible buyers when the BVE, South Australia holding was listed after its receivership earlier this year.
Its assets include a modern 5000 tonne winery and a 41 hectare vineyard along with assigned grape grower contracts.
The company see BVE as a complementary fit to its established cool climate Oyster Bay business enabling Delegat's access to the Barossa Valley Shiraz market.
It sold through Sam Davies, partner of BVE receiver McGrathNicol with settlement expected in June.