Endeavour Group has acquired Tasmanian winery Josef Chromy Wines to expand its Paragon Wine Estates fine wine portfolio. The sale is in partnership with Warakirri Asset Management.
Endeavour Group managing director and CEO Steve Donohue said the acquisition indicated the company's interest and investment in Tasmania. The winery is just south of Launceston.
“Tasmania is currently the top performing Australian region for premium wines in our retail stores throughout the country. Josef Chromy Wines is one of the most renowned Tasmanian wineries, having produced exceptional, cool climate wines for almost two decades,“said Donohue.
Endeavour Group will welcome over 60 team members from Josef Chromy’s winery and cellar door to its operations in Tasmania, which consists of more than 40 stores and pubs with roughly 500 team members.
Under the terms of the agreement, Endeavour Group will lease the winery, 61 hectare vineyard, restaurant and cellar door from Warakirri Asset Management on a long term basis.
“We are always considering how to best deliver value to our shareholders through our growth strategy, and we already have significant experience successfully managing leasehold property assets thanks to our hotel and store networks. The partnership with Warakirri Asset Management will enable us to extend this successful model to these winemaking operations.
“We’re confident that we can build on the success of Josef Chromy Wines and expand their appeal by leveraging our brand-building capabilities, extensive store network, digital platforms and our capacity to invest in quality and innovation,” Donohue said.
Josef Chromy said Josef Chromy Wines is an iconic business that had potential for growth.
“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,” Chromy said.
The winery's general manager Shaine De Venny will take on the role as Head of Paragon Wine Estates, while chief winemaker Ockie Myburgh and head chef Nick Raitt will stay on.
New Tasmania viticulture manager
Endeavour Group has appointed Kellie Graham to the role of Viticulture manager Tasmania. She joins the company from Treasury Wine Estates, where she was the viticulture lead for Tasmania.
The addition of Josef Chromy Wines expands the Paragon Wine Estates regional coverage to include award-winning brands across six premium key wine regions in Australia and New Zealand: Oakridge Wines (Yarra Valley), Chapel Hill (McLaren Vale), Isabel Estate (Marlborough, New Zealand), Krondorf (Barossa Valley), Riddoch (Coonawarra) and Josef Chromy Wines (Tasmania).
MD of Dan Murphy’s resigns
Managing director of Dan Murphy’s Alex Freudmann has resigned after just over two years in the role, saying he plans to return to the UK with his family.
Endeavour Group CEO and managing director Steve Donohue said Freudmann had led the business through “an incredible disruptive two years” and been “instrumental in driving innovation and modernisation”.
“Alex has supported the creation of new store formats, and together with the endeavourX team, he has overseen Dan Murphy’s digital platforms become the ‘front door’ for customers.
“I sincerely thank Alex for his tremendous contribution. While we are disappointed at losing someone of his calibre, we understand Alex’s desire to return to the United Kingdom to be closer to family, particularly given the significant challenges of working abroad over recent years,” Donohue said.
