Josef Chromy Wines sells to Endeavour Group, Warakirri Asset Management for about $55m

One of Tasmania’s most celebrated wineries has sold for a massive price, in what’s been described as the biggest transaction of its kind in Australian history.

A major liquor and hospitality company and a superannuation fund have teamed up to buy a renowned Tasmanian winery for $55m, in what’s believed to be the biggest transaction of its kind in Australian history.

Endeavour Group, which was originally formed out of Woolworths’ retail drinks business and owns the liquor store chains Dan Murphy’s and BWS, announced that it had partnered with Warakirri Asset Management to acquire Josef Chromy Wines.

Under the agreement between the two parties, Endeavour will lease the winery, vineyard, restaurant and cellar door from Warakirri.

Founded by Josef Chromy OAM in 2004, the beloved vineyard and cellar door sit on 110ha at Relbia, just south of Launceston.

Wine maker Josef Chromy at his winery at Relbia. PICTURE: CHRIS KIDD

A legendary figure in Tasmania’s tourism and hospitality scene, Mr Chromy, 91, has decided the time is right for him to retire.

Mr Chromy left what was formerly known as Czechoslovakia in 1950, fleeing his war-torn village following Nazi and Soviet occupation.

He has owned and developed some of Tasmania’s leading wineries, such as Rochecombe (now Bay of Fires), Jansz, Tamar Ridge, and Heemskerk.

Mr Chromy said Josef Chromy Wines was an “iconic business” with “wonderful potential for growth”.

“I am certain that the expertise and financial strength of the new owners combined with our excellent staff will see unprecedented expansion over coming years,” he said.

“At 91 years of age, I feel it is appropriate that I retire from this business, however, I wish Endeavour Group and Warakirri every success for the future at Josef Chromy Wines.

“You can all count on me to remain a regular at the venue.”

Josef Chromy Wines. The estate includes a 61 hectare vineyard and state of the art winery, producing elegant wines from premium cool climate fruit. PICTURE: Andrew Wilson

Savills Australia real estate agent Nick Butler, who oversaw the $55m sale, told the Mercury that it was believed to be the biggest single wine brand transaction in Australian history.

“There have been larger sales … but in terms of single brand transactions, I can’t think of another (bigger) one,” he said.

Mr Butler said there had been four other “big name” parties interested in becoming the tenant before Endeavour won out.

Josef Chromy

“It was a very competitive process,” he said.

More than 60 Josef Chromy Wines staff will now come under the banner of Endeavour, which is the country’s leading retail drinks and hospitality business, with more than 40 stores across Tasmania and about 500 staff.

“We are thrilled to add Josef Chromy Wines to our Paragon Wine Estates portfolio as part of our strategy to grow our premium wine production capabilities,” Endeavour managing director and chief executive Steve Donohue said.

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