Endeavour Group introduced it has signed an settlement with Moët Hennessy, the wine and spirits arm of French luxurious items large LVMH, to amass Cape Mentelle. A payment wasn’t disclosed.
Completion of the deal will happen ‘in the end’, pending licensing approval, mentioned Endeavour, a number one retail and hospitality group that has alcohol retailer Dan Murphy’s and several other different wine manufacturers in its portfolio.
Cape Mentelle was based in 1970 and the deal heralds an possession change for a pioneer of winemaking in Australia’s Margaret River area. The vineyard’s 1983-vintage Cabernet Sauvignon is a Decanter ‘Wine Legend’.
Endeavour Group mentioned core workforce members would keep on after the deal.
‘Will probably be enterprise as common for Cape Mentelle with key personnel to stay with the vineyard, together with property director Penny Dickeson, viticulturist Dave Moulton and not too long ago appointed senior winemaker Eloise Jarvis,’ it mentioned.
Cape Mentelle can be added to Endeavour’s Paragon Wine Estates arm, created in 2019, and the deal provides a high-profile presence in Western Australia to the group’s present portfolio, which incorporates Chapel Hill in McLaren Vale, Riddoch in Coonawarra, Krondorf in Barossa, and Isabel Property in Marlborough, New Zealand, amongst others.
Endeavour Group’s CEO and managing director, Steve Donohue, mentioned, ‘Cape Mentelle founder David Hohnen as soon as mentioned “wine is a journey”. I’m excited for Cape Mentelle to affix our Endeavour Group journey and assist us create a extra sociable future, collectively.’
He added, ‘Anybody who has tried a Cape Mentelle Cabernet or Chardonnay is aware of simply how particular this vineyard is. I’m completely delighted to welcome Cape Mentelle to the Endeavour Group and Paragon Wine Estates households and to see it proceed to develop on a worldwide scale, whereas giving extra folks throughout Australia entry to its implausible vary of wines.’
Final 12 months, LVMH introduced it was buying Joseph Phelps Vineyards in Napa Valley, including the highest California identify to its formidable portfolio of high-quality wines and spirits.
LVMH proprietor Bernard Arnault was not too long ago named the world’s richest man by the Forbes publication, which estimated that he had overtaken Elon Musk within the world wealth standings.
