The Lane Vineyard in the Adelaide Hills – one of the country’s leading wine and food destinations – has returned to Australian ownership following its sale this week to a local businessman.
The Lane CEO Jared Stringer, who has run the business since 2019, is staying on and is now a shareholder.
The identity of the new investor has not been disclosed at this stage.
The Vestey family in the UK has owned The Lane since 2011.
Jared says his decision to invest in the business is “a vote of confidence in our team, the strength of the brand and the enormous potential that still lies ahead”.
“It is not lost on me that we are the custodians of one of the most iconic wine and food destinations in the country, and I am humbled to be able to build on this incredible foundation,” he says.
“It’s a rare privilege to lead a business you love – rare still to become part of its legacy.
“The Lane is a place of innovation and excellence with a vibrant team culture at the fore – the future is very bright.”
Jared has guided The Lane through some of its most transformative years.
This has included navigating the Covid pandemic, overseeing a major rebrand, rejuvenating the estate vineyards and driving “strongth growth” across the bottled wine and hospitality businesses.
He says it will be pretty much business as usual for The Lane.
“Continuity across all facets of the business is assured,” says Jared.
“Especially for the winemaking and vineyard team, who have played a key role in building The Lane’s reputation as one of Australia’s leading wine estates.
“Customers can have complete confidence that the wines they know and love will continue to be crafted with the same care, expertise and commitment to quality.”
The Vestey family put The Lane on the market in October last year with an asking price of $20 million.
Jared said at the time, “The main reason (for the sale) is that they are going through a family succession at the moment over in the UK and so, the assets are being divested to facilitate that succession.
“So that’s part of the reason they are selling The Lane but the other key reason is that it’s just the perfect time to sell the business.
“We’ve been growing year-on-year and have been seeing double-digit growth for the past four years.
“So we’re selling from a position of strength.
“We’re a sparkling and white-wine focused business, being in the Adelaide Hills, and those products are in a bigger demand than they have ever been.”
The Lane was founded by the Edwards family in 1993.
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