Wool brokers swoop on Karadoc winery

Treasury Wine Estates’ Karadoc winery is set for a new life as a storage and logistics hub following its recent sale. See the details.

A new venture has acquired Treasury Wine Estates’ Karadoc winery. Picture: supplied.

A pair of wool brokers have swooped on Treasury Wine Estates’ Karadoc winery, where they plan to repurpose the facility in Victoria’s Mallee region.

Treasury Wine Estates (TWE) has confirmed the sale of its Karadoc winery in Mildura following the announcement of its plans to close the facility in July last year.

At the time TWE said their decision was made due to changing consumer preferences, challenging market conditions and the company’s continued focus on growing its premium and luxury wine portfolios.

Karadoc Logistics Hub Pty Ltd, co-owned by co-directed by Troy Harrington and Mark Dyson, have acquired the 183ha property for an undisclosed price.

The transaction is expected to be completed by October 11.

The new venture plans to establish a storage and logistics hub, while TWE will use the existing tanks and warehouse on the site.

Mr Dyson is at the helm of one of Australia’s largest wool brokers, Quality Wool Group, where he is the managing director.

Treasury Wine Estates CEO Tim Ford. Picture: supplied.

Mr Harrington is Quality Wool Group’s chief financial officer.

Karadoc Winery had been operating since 1973, producing wine for TWE brands including Yellowglen, 19 Crimes and Lindeman’s.

The sale of Karadoc follows a recent announcement of TWE’s plans to divest its Commercial brand portfolio including Wolf Blass, Yellowglen, Lindeman’s and Blossom Hill.

“This site has been an important part of the Mildura community since it opened in 1973 and will always be recognised for its long history and the meaningful role it’s played as part of TWE’s journey,” TWE chief supply and sustainability officer Kerrin Petty said.

“The decision to close the site was not made lightly, and we’ve been working closely to support the team through the process.

“We’re always reviewing our assets to ensure we are set up in the best way to support our strategic priorities, and right now that means a focus on our luxury-led strategy.”