Banksia Wines Ltd, which listed in late 2000 as a merger between the two small to medium-sized Tatachilla and St Hallett wine companies, has added Hillstowe Wines to its folio for around $4 million. Hillstowe is a small Adelaide Hills producer whose wines have been admirably consistent and occasionally quite impressive. It also sources grapes from McLaren Vale and has around 17 hectares under vine. Its annual production of around 12,000 cases generates sales of around $1.7 million per annum. The deal involves an initial cash payment of $3 million to Hillstowe’s previous owners, Chris Laurie and his family, with a performance component of up to $500,0000 dependent on Hillstowe meeting 2001/2002 volume and revenue targets.
