Yarra Yering, the historic, super-premium Yarra Valley winery, is set to be sold.
Contracts for the sale have been signed with buyers represented by Reid Bosward, chief executive and winemaker of the small, 19-year-old Kaesler Wines in the Barossa Valley.
Bosward would not comment yesterday.
But one prospective buyer said the price would probably have been about AUS$5m.
Yarra Yering was put on the market earlier this year following the death last September of its co-founder, Dr Bailey Carrodus.
Carrodus was largely responsible for the renaissance of the Yarra Valley wine industry. In 1973 he produced the first commercial vintage since 1922 – in a region which had almost disappeared after being a key wine area in the late 1800s.
Written by Chris Snow in Adelaide