Accolade puts Knappstein winery up for sale
Accolade Wines has placed one of the Clare Valley’s best known wine brands, Knappstein, on the market.
The deal includes the winery and cellar door operation, just north of the Clare town centre, plus four vineyards comprising 127ha of riesling, shiraz and cabernet sauvignon varieties.
The Provis, Enterprise and Yertabulti vineyards are located at Spring Farm, while the Ackland vineyard is located in Watervale.
The company’s cellar door is housed in an historic brewery building, with a striking tower and chimney, while the winery supports annual production of up to 1500 tonnes.
The sale of the Knappstein operation follows a review of Accolade’s South Australian footprint announced in November.
“The company regularly reviews its operational footprint globally to ensure we are ideally positioned to meet the needs of our customers, to adapt to changing market conditions and to take advantage of opportunities,” the company said at the time.
“This approach ensures we remain competitive and well positioned for long term growth, profitability and success.”
According to selling agent Langley & Co there is potential to expand capacity at the winery or embark on further development to support additional activities including in craft beer production, hospitality and tourism.
The agent also notes there is "an experienced team is in place for the ongoing management of the vineyards and winery".
Knappstein was established by winemaker Tim Knappstein in 1969, with the first wines produced in 1974.
Accolade Wines acquired Knappstein when it bought Lion Australia’s premium wine business, Fine Wine Partners, in 2016.
The sale included FWP’s six Australian fully-owned brands Petaluma, Croser, St Hallett, Knappstein, Stonier and Tatachilla, its four Australian wineries, including all plant and equipment, land and vineyards, inventory and the on-and-off-premise distribution network.
WBM foreshadowed in November last year that a Knappstein sale was on the table. It followed the news the company was shifting its Houghton Wines production from its historic winery and cellar in the Swan Valley to Nannup.