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Macquarie picks up a nice drop
13 Mar 2008
The Macquarie Diversified Agriculture Fund has purchased a vineyard and is looking to acquire other large-scale operations. The fund paid $50 million for Chalmers Vineyards located in the south of NSW at Euston. The fund is aiming to develop or acquire assets which will equate to a minimum of 5 per cent of the total market for every agricultural sector that it enters according to Anthony Abraham, head of retail agribusiness at Macquarie Alternative Assets Management Limited. "Our wine grape harvest from this season has exceeded 15,000 tons, which equates to approximately 1 per cent of the Australian crop," he said. Bruce Chalmers from Chalmers Vineyards will be retained as a viticulture consultant for the property and will be part of a committee overseeing acquisitions of other vineyards.
The Australian Financial Review, 13/3/2008
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