Paragon Wine Estates (part of Endeavour Group) has today announced the acquisition of the Yarra Valley’s Oakridge Wines into its premium wine portfolio.
The purchase of Oakridge Wines includes the brands and the winery, vineyards (20.8 hectares, and another 16.6 hectares leased) and its grape grower relationships as well as award-winning restaurant and cellar door.
The addition of Oakridge Wines expands the Paragon Wine Estates regional coverage with award-winning brands across five premium key wine regions in Australia and New Zealand; Oakridge Wines (Yarra Valley), Chapel Hill (McLaren Vale), Isabel Estate (Marlborough, NZ); Krondorf (Barossa Valley), and Riddoch (Coonawarra).
“We are thrilled to welcome Oakridge Wines to our Paragon family and look forward to enjoying the magic that the winemaking team led by Chief Winemaker David Bicknell will create in vintages to come,” said Endeavour Group’s Managing Director Steve Donohue.
“Personally, it’s great to have strong support and encouragement to continue 20 years of work at Oakridge, to continue to make wines the way they should be made, and to build on our reputation as sustainable farmers,” said Oakridge Wines Chief Winemaker David Bicknell.
“Joining such a large drinks business will enable us to further improve Oakridge’s fine wine credentials and realise the full potential of our vineyards and our team,” he added.
Established in 1979, Oakridge Wines has under the D’Aloisio and Atlas family-run ownership grown to become an internationally recognised wine producer of award-winning wines and a must-visit Yarra Valley destination. Oakridge Wines has accumulated an impressive tally of over 500 domestic and international trophies and medals together with countless awards for hospitality at its architect-designed facility.
Paragon Wine Estates was established in 2019 following the acquisition of McLaren Vale’s Chapel Hill winery.
“Paragon’s ambition is to preserve the heritage of wines that have incredible provenance, to share the stories – some of which span centuries – and to make them more accessible to wine lovers throughout Australia,” Mr Donohue said.
According to Chapel Hill Wine CEO and Chief Winemaker Michael Fragos, being part of Paragon Wine Estates has helped the team and the brand to thrive.
“Making great wines that customers love is at the heart of what we do at Chapel Hill. Since joining Paragon Wine Estates, we have been able to make vineyard improvements including planting bush vine Grenache, and we are working on creating a range of Lo-Fi wines as well as a new icon wine which is due for release in 2023,” he said.
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Australia’s leading retail drinks and hotels business, will commence trading on the Australian Securities Exchange (“ASX”) at 12pm AEST on 24 June 2021 on a conditional and deferred settlement basis.
Team members at Endeavour Group, Australia’s leading retail drinks and hotels group, got creative and created a virtual bell so all 28,000 employees could take part in celebrating the first day of trading on the Australian Securities Exchange, following the postponement of the bell ringing ceremony at the Exchange Centre due to Covid-restrictions in Sydney.
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