Knappstein sale finalised

On the market since March, Clare winemakers Knappstein are under new ownership by Yinmore Wines.

On the market since March, Clare winemakers Knappstein are under new ownership by Yinmore Wines.

The future of Clare's Knappstein Wines has been secured following the finalisation of it's sale.

Accolade Wines confirmed on Wednesday morning that the label and its assets had been acquired by Australian Yinmore Wines Pty Ltd.

Known as Yinmore Wines, the company was linked to Chinese food and beverage manufacturing company Bright Foods through investors of Yinmore Sugar.

Bright Foods, which owned Sunbeam and Margaret River Dairy Company, purchased Yinmore Sugar in 2009.

Yinmore had already established a foothold in South Australia after it purchased land in McLaren Vale last year.

Wickham Estate, and it's 24 hectares of vines, were sold to Yinmore for an undisclosed price.

A spokesperson from Yinmore told Northern Argus that the sale price for Knappstein would also not be disclosed, but they were committed to investing in the label.

"Yinmore Wines is excited by the opportunity to become the custodian of the historic Clare Valley site," they said.

"The company is committed to significant investments in the winemaking at Knappstein winery and similarly, the iconic 40-year-old vineyards with such a rich history of high quality grape production.

"Knappstein's existing award-winning wine portfolio will be enhanced with well-respected winemaker Mike Farmilo assisting Yinmore Wines with winemaking post completion."

Employees at Knappstein were not out of the woods just yet, as the spokesperson added that employment opportunities were under review.

The previous owners of Knappstein put the brand on the market in March this year after an internal review was conducted.

Speculation surrounding the potential sale of Knappstein had been rife for months prior to it officially hitting the market as Accolade announced a review "of its operational footprint in South Australia" last December.

The historic, heritage-listed brewery building on Pioneer Avenue was included in the sale, as was Knappstein's four vineyards in Spring Farm and Watervale.

A statement from Accolade said that the company would still have a presence in the Clare Valley wine region.

"Accolade will continue to distribute the Knappstein range of wines until the new owners have determined their sales and marketing strategy.

"Excluded from the sale agreement are Accolade's two remaining Clare Valley vineyards, over which it will retain ownership to ensure supply of prized Riesling grapes to its Petaluma, Hardys and Leasingham brands."

Knappstein had forayed into the micro-brewing market in 2006 with the production of a larger at the former Enterprise Brewery location, however production was ceased in 2017 by Lion Nathan.

Yinmore did not currently have plans to restore brewing at the site.