Interactive China Cultural Technology buys Victoria’s Balgownie Estate winery
Interactive China Cultural Technology Investments has spent around $29 million on Victoria’s Balgownie Estate winery, according to the Weekend Australian.
Balgownie Estate has been producing wines since 1969, mostly known for its reds, at its Bendigo property.
Established by the legendary winemaker Stuart Anderson in 1969, Balgownie Estate was the first vineyard planted in the Bendigo district in more than 80 years.
The 33 hectare vineyard is situated on a gentle slope overlooking Myer's Creek at Maiden Gully.
In 1999 brothers and passionate wine lovers Des and Rod Forrester heard the rumour that Balgownie Estate was to be offered for sale. Digging out a couple of prized bottles of Balgownie Estate Cabernet Sauvignon from Rod's cellar, they found themselves hatching a plan to buy the vineyard and the winery in Bendigo. The Forrester brothers and their long term family friend Bill Freeman submitted a tender that same day, and with little to-ing and fro-ing the vineyard was theirs, according to the winery website history.
In 2002 the Forresters expanded to their Yarra Valley site and started building what is now the cellar door, restaurant, conference centre and 70 spa suite apartments and a state of the art day spa.
The winemakers at Balgownie have been notably long standing as in over 40 years, there have been just five: founder Stuart Anderson was succeeded by Mildara Blass winemaker Lindsay Ross. Tobias Ansted was the first winemaker under current ownership, starting in 1999 and leaving just before his 10 years were due in late 2008. In January 2009 winemaker Mark Lane joined the team and he was suceeded by the assistant winemaker Tony Winspear for the 2014 vintage.
The 110 ha combined holding represents the group’s third investment in the sector after spending more than $17 million last year acquiring Lancefield Estate and Hepburn Springs, near Daylesford, with winery accommodation, conference centres and land for development.