China’s Interest In Australian Wine GrowsOctober 25, 2011
Bloomberg reports that Chinese investors see opportunity for Australian wines across the Asia Pacific region and are quickly acquiring vineyards Down Under. Chinese investors have bought six wineries in Australia’s Hunter Valley the past three months, and three more transactions are in the works, Bloomberg says.
Xiamen-based Winston Wines, which owns 60 retail stores in China, has been especially active, purchasing three smaller Australian properties this year. Bigger Chinese firms Dynasty Fine Wine and Bright Food also say they’re eyeing Australian wine assets, with vineyard prices in the country down 11% since last year and as much as 50% since 2008. This summer, rumors swirled that Bright Food was interested in bidding for Treasury Wine Estates, but no formal approach has been made.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.