In a genuine win-win situation, Petaluma Ltd has acquired 70% of the shares of Stoniers Wines Pty Ltd on Victoria’s Mornington Peninsula for $2.8 million. This is the first time that a medium-sized or large wine company has shown sufficient interest in Peninsula wine to buy into the area and Stonier’s is one of the few jewels in the crown. Tod Dexter remains as winemaker, Brian Stonier as Chairman and I’m certain the company and its people can only benefit through the purchase. Now it remains to be seen if any of the other larger winemakers follow Brian Croser’s lead. Only a few Mornington operations like Dromana Estate and Tuck’s Ridge have reached any comparable degree of critical mass.
