SBlack Forbes Billionaire
Buys winery in Stellenbosch
Mining tycoon Patrice Motsepe has acquired Hidden Valley in the famous South African wine region for more than 5 million US dollars.
The first black African to make the Forbes billionaires list is taking steps into the wine industry. The mining magnate Patrice Motsepe with an estimated value of 3 billion US dollars, the Hidden Valley winery nearStellenbosch gekauft.
According to South African news agency News24, the sale includes a 28-hectare farm acquired for between 100 million rand (US$5.5 million) and 120 million rand (US$7.9 million) in cash.
The former owner Riaan Stassen had owned the estate since 2015. Around 5.7 hectares are planted with Shiraz and another 5.3 hectares with Cabernet Sauvignon while 5.6 hectares are planted with Sauvignon Blanc are planted.
Historically Hidden Valley Sauvignon Blanc, Viognier, Merlot and south africa even produces South African sparkling wine. Bottles are sold online for around R135-220 rand (US$8.90 to US$14.55).
Experts are excited about Motsepe’s investment and believe his influence will attract more people to the region and make it easier to promote South African wine to collectors and enthusiasts.
«This will be good to promote the brand and make it more attractive to other markets» Maryna Calow, communications manager of Wines of South Africa, told News24.
«This could build strong relationships between Gauteng and Stellenbosch. It will also grow the tourism industry in the area.»
The Vinezard Hidden Valley are situated at an altitude of 269 m above sea level on the northern slopes of the Helderberg Mountains in Stellenbosch. They are planted on granite soils consisting of deep, fertile Oakleaf and Tukulu profiles.
Motsepe is third on the list of South African billionaires. In 2013, he signed the Giving Pledge of Bill Gates and Warren Buffett and promised to donate at least half of his wealth to charity.
It is not known whether Hidden Valley winemaker Annalie van Dyk will remain at the winery after the takeover. Van Dyk has previously worked with Andy Erickson of Screaming Eagle in Napa as well as in France’s Loire Valley.
