Mulderbosch Vineyards in Stellenbosch, South Africa, has been sold to California-based investment group Terroir Capital for an undisclosed sum.
The purchase will include the entire brand, winery, vineyards, and inventory.
Mulderbosch’s sister winery, Kanu, is not expected to be part of the deal. Terroir Capital’s team is being led by Charles Banks, a former partner in California’s Screaming Eagle winery, who told Decanter.com that the deal is expected to close later this month.
Screaming Eagle’s current winemaker, Andy Erickson, will lead the Mulderbosch winemaking team commencing with the 2011 vintage. The current Mulderbosch production team, including its winemaker Richard Kershaw, is expected to remain in place.
Ben Truter, Mulderbosch’s MD, was introduced to Banks by his US importer, André Shearer of Cape Classics, who told him he knew of a party interested in supporting the now 120k case winery’s growth. ‘I had to make a decision to either extend our credit facilities with our bank or sell the business to a reputable buyer,’ Truter said.
In addition to wineries Terroir Capital invests and develops small resorts, hotels, spas, and restaurants.
It bought South Africa’s Tulbagh Mountain Vineyards in September 2010.
Banks told Decanter.com he is looking for additional opportunities in South Africa and is pursuing further expansion into Italy, Chile and Argentina.
He said, ‘The world is not screaming for more mediocre, sweet, over-oaked Chenin blanc Mulderbosch’s old vines have incredible potential.’
Written by David Furer