According to Wine Spectator, U.S. wine giant Jackson FamilyWines recently acquired Giant Steps, a winery located in the Yarra Valley region of Victoria, Australia, for an undisclosed price.
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The purchase includes the Sexton and Applejack vineyards, totaling approximately 75 acres. The winery and tasting room are currently subleased to JFW, but the winery"s restaurant in Victoria is not part of the acquisition or sublease. Meanwhile, Sexton, who served as the original general manager of the winery, and Steve Flamsteed, the original head winemaker, will continue in their original roles with the company and retain their long-term contracts with the winery.
The difficult market conditions did not stop the head wine companies from developing business.