Clouded future for Rosemount Estate winery

THE long-term future of iconic Hunter Valley winery Rosemount Estate at Denman is uncertain after owner Foster's Group announced a revamp of its $4 billion wine division.

A spokesman for the group told The Herald yesterday that the winery would be closed unless a buyer was found in the meantime.

Foster's said the move was part of a major consolidation of its wine operations, announced on February 17.

The spokesman said the company had decided to sell or close the Denman winery and had informed workers of the decision. He said the winery still had contracts with other vineyards to process fruit.

Foster's hoped to sell Rosemount Estate as a going concern. The spokesman said if a buyer was not found a decision would be made to close the winery but it "would take some time to do so".

It may be 2010 before the decision was made.

The spokesman said workers would receive full entitlements.

Rosemount Estate was founded at Denman by Bob Oatley 40 years ago.

In 2001 the Oatley family took Rosemount into a $1.49 billion merger with Southcorp Wines, which subsequently was acquired by beer giant Foster's for $3.2 billion in 2005.