Endeavour Group is adding Tasmanian wine producer Josef Chromy Wines to its fine wine portfolio.
The acquisition is in partnership with Warakirri Asset Management and aims to enhance Endeavour’s fine wine portfolio, Paragon Wine Estates, which contains “a collection of award-winning and premium heritage wineries and wine brands”.
According to Steve Donohue, Endeavour group MD and CEO, the company continues to invest in Tasmania because it considers it the “top-performing Australian region for premium wines”, and Josef Chromy Wines is one of the most well-known Tasmanian wineries.
The acquisition includes over 60 team members from Josef Chromy’s winery and cellar door to its operation in Tasmania, which includes more than 40 stores and 500 staff. Endeavour will lease the winery, the 61-hectare vineyard, restaurant and cellar door in the south of Launceston, under a long-term agreement with Warakirri Asset Management.
“We are always considering how to best deliver value to our shareholders through our growth strategy, and we already have significant experience successfully managing leasehold property assets thanks to our hotel and store networks,” said Donohue.
“The partnership with Warakirri Asset Management will enable us to extend this successful model to these winemaking operations.”
Josef Chromy Wines was founded in 2004 by Josef Chromy OAM, who has developed and experienced the Tasmanian wine industry for the past 30 years. Shaine De Venny, currently GM at Josef Chromy Wines, will take on a role as head of Paragon Wine Estates, while Josef Chromy chief winemaker Ockie Myburgh and head chef Nick Raitt will continue to oversee wines and food at the winery and cellar door.
In addition, Endeavour has appointed Kellie Graham, who used to work for Treasury Wine Estates, as viticulture manager for Tasmania.