Foster's sells Nurioopta complex

Published: 23 July, 2008

AUSTRALIA: Tarac Technologies has bought Foster's Nurioopta white winery packaging and warehouse complex for an undisclosed sum.

The sale of the complex, in South Australia's Barossa Valley, is part of the ongoing consolidation of Foster's winery and production operations.

Tarac has bought all of the assets excluding the red winemaking facilities in the southern section of the site.

Foster's will continue to own and operate the Penfolds red-wine-making facilities. The Penfolds Cellar Door will also continue to be operated under a long-term leaseback arrangement.

Under the terms of the sale, Foster's will lease back the site until June 30 2010.

Foster's chief executive Trevor O'Hoy said: "The sale of this property is another important step in the consolidation of Foster's winery and production operations."

Tarac joint chief executive Nic Law added: "The site represents a quality, high-profile and versatile asset, and once the leaseback period has expired we intend to expand our services to include finished goods warehousing and bulk wine storage, contract winemaking and laboratory services."

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