Barossa wine business institution Tarac Technologies will be put up for sale as a going concern.
Tarac Australia Limited says it will commence “an orderly process” to exit the business.
The decision was made at a Tarac board meeting on Tuesday 24 March.
Tarac is Australia’s largest distiller of grape spirit and a leader in managing winery residuals, treating more than 135,000 tonnes of grape marc a year.
The private company – established in 1930 – says the sale is in response to “structural changes to our key markets”.
Tarac CEO Jeremy Blanks said the “proactive decision” follows a full independent commercial review and allows for an orderly market process to exit the business.
“Activities currently undertaken by Technologies will continue,” he said.
“We will operate and trade as normal.
“As custodians of a business with close to 100 years of history in our communities, these decisions are incredibly difficult.
“These decisions are currently being communicated with shareholders, staff, clients and suppliers who are also being assured the business will continue to trade with all liabilities and obligations satisfied.”
Tarac’s services include recycling solid and liquid winery residuals including grape marc (pomace), filter cake, centrifuge and cross flow sludge.
Long before sustainability became a philosophy, Tarac founder, ex-CSIRO scientist Alfred Allen saw an opportunity to solve the waste problems of wineries while adding value through distillation.
Nearly a century later, Tarac is the largest distiller of grape spirit in Australia and a leader in winery residual management.