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24 February 2010
Foster's vineyard fire sale
THE troubled wine arm of Foster's Group unloaded three more of its vineyards this month, bringing to 20 the number sold since the original 32 were placed on the market in June 2009.
The latest three are all in NSW and are part of Foster's vineyard divestment program announced in February last year.
They are the 39-hectare Tumbarumba vineyard and the prized former Rosemount Hill Of Gold (102 hectares) and Mountain Blue (20 hectares) vineyards near Mudgee.
The vineyards are planted with shiraz, cabernet sauvignon, chardonnay and pinot noir, and Foster's says the sale agreements are confidential.
In the case of the Mudgee vineyards, the brand name is not included.
This mirrors the actions of Foster's in selling the Roxburgh vineyard at Denman and Rothbury Estate winery, cellar door, function centre and surrounding 10 hectares of vineyard in Broke Road, Pokolbin1 .