Gemtree Wines, one of McLaren Vale’s leading wineries, is for sale.
“Due to a change of circumstances with a shareholder, the business is being offered for sale as a going concern,” Langley & Co says.
Gemtree is managed by part-owners Mike and Melissa Brown who have built the business over 25 years and “remain committed to ensuring their aspirations for the brand are realised under new ownership”.
Mike and Melissa are very much the faces of the respected brand.
The Advertiser reports that Chinese iron ore and property investor Yuangang Song owns “a slight majority” of the business and has decided to put it on the market.
“Mr Song signed a joint venture agreement with the McLaren Vale winery in 2013 to market and sell Gemtree wines in China under the Gemtree and Sacredtree brands, and also that year committed to investing $30 million in the business over five years,” the report says.
The business includes a 3,000 tonne winery, a tasting room and premium accommodation.
Gemtree, established by the Buttery family in 1998, sells 40,000 cases of wine a year.
The sale is expected to fetch offers of more than $10 million.