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McWilliam’s Wines has been taken out of family ownership for the first time in more than 140 years after a sale to newly formed Prcstnt Asset Management.
One of Australia’s largest winemakers has entered the market after going into administration last month, with agents expecting ‘wide-ranging’ interest.
Interest from institutional investors and private equity remains strong in Australian agriculture despite difficult conditions because of a belief in the asset class’ ‘long-term thesis’.
ACCC makes 10 final recommendations for wine grape producers and warns that a mandatory code of conduct could be introduced in 12-18 months if sufficient progress is not made.
The Australian Competition and Consumer Commission has made a series of recommendations to try to increase transparency and certainty of pricing.
Meat processor Thomas Foods is selling the 5,728ha horticulture property, which has a High Security water entitlement for the Darling River.
The wine maker has agreed a 10-year PPA with Flow Energy for more than 9,000MWh of power each year at its New South Wales asset.
The Canadian pension made the investment through its strategic tie-up with the embattled fund manager, securing the asset from a Singaporean vendor on a sale-and-leaseback deal.
The investment was made out of the Homestead Capital USA Farmland Fund II, which closed on its $400 million hard-cap in November.
Located in Southern Australia's Fleurieu wine region, the family-owned estate exports about half of its bottled wine to China.
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