The sale
was concluded on 21 February 2011 and is subject to certain conditions,
including regulatory approvals.
The
transaction includes 452 hectares of land, including 72 hectares of vineyards;
a cellar each for processing red and white wine; cellar door, administrative
and storage facilities; and the La Garonne manor house.
Graham Beck
Wines’ Robertson cellar and vineyards, and its Firgrove estates (located
between Stellenbosch and Somerset West) will continue to operate as before and
do not form part of the sale.
General
Manager of the Graham Beck Wines group, Gary Baumgarten said, “Consistent with
standard business practice, the company assets, products and modus operandi of
Graham Beck Wines are reviewed and evaluated periodically, and decisions are
taken on the basis of optimisation of our business profitability and product
quality.
“Therefore,
it was decided to consolidate the asset base and sell the Franschhoek estate of
Graham Beck Wines. Such consolidation provides the benefit of sweating the
remaining asset base of Graham Beck Robertson (focusing on Cap Classique
production but still producing still wines), Steenberg Vineyards for the
production of still wine under the Steenberg trademarks, and the Firgrove
properties of the Graham Beck Wines group for premium grape viticulture.
“None of
the other Beck family wine interests form part of this transaction, there will
be no change in the ownership of the Graham Beck Wines group and the management
of the operations of the Graham Beck Wines group remains unchanged.”
Johann
Rupert, owner of the Anthonij Rupert Wines group said, “The late Graham Beck
was a friend of over thirty years. We had been neighbours for decades and he
offered us the opportunity to acquire the land adjacent to L’Ormarins some time
ago. As a farmer it is generally accepted that if, during your lifetime, the
neighbouring farm becomes available, you are very fortunate.”