Pipers Brook, Tasmania’s largest and arguably most important wine company, is set to be picked up in its entirity by an international trading business that deals in wool and skin exports. Kreglinger Australia has offered $2.00 cash for each Pipers Brook share, valuing the company at A$30.6 million, exclusive of debt. This offer has been unanimously accepted by Pipers Brook’s directors. Kreglinger, which began this bid already owning 14.9% of the shares in Pipers Brook (having privately acquired 9.4% from its founder Dr Andrew Pirie), has also established a green field vineyard and winery development at Mount Benson, in the Limestone Coast, at which the first wines were made in 2001.
