date:Jul 29, 2014
Winemaker Australian Vintage has agreed to sell Yaldara Winery in Barossa Valley to 1847 Winery, a firm backed by Chinese investors, for approximately A$15m ($14m).
The move is said to be in line with the company's strategy to grow export business and build branded sales.
An agreement, which was signed by both the companies, includes the sale of Yaldara winery and Yaldara's portfolio of fortified products.
However, Australian Vintage will continue to produce and sell table wines for the next