By Annette Shailer

Foster’s Group is selling a $243m portfolio of vineyards in Australia and the US following a recent strategic review of the company’s underperforming wine business.

The majority of the vineyards are in the South Australian regions of Eden Valley and Coonawarra but will include vineyards in the Hunter Valley, Yarra Valley, Mudgee and Murray-Darling as well as a number of US properties, The Australian Financial Review reported.

The multi-beverage company will also sell Baileys of Glenrowan with its own label.

Foster’s $4 billion wine business underwent a major review in February that saw its multi-beverage strategy removed and recommended the divesting of 36 non-core vineyards and the sale of more than 37 ‘tail’ wine brands.  


The Shout Team

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