Popular winemaker saved from closure by new investors and old hands

The sale of Cassegrain Wines on the NSW Mid North Coast is complete, following months of speculation about the future of the popular winery. 

The business was purchased by Avenir Vigneron Pty Ltd, a new entity made up of a syndicate of investors including Philippe Cassegrain, son of the business’s former managing director, John Cassegrain.

In June, John Cassegrain filed for voluntary administration, citing the economic fallout from the COVID-19 pandemic, and 80 per cent of the winemaker’s stock being left “unmarketable” following bushfire-caused smoke taint.

The winery continued to operate while administrator Shaw Gidley moved to put the business on the open market.

Cassegrains still at the helm

The new agreement will see Philippe Cassegrain continue to run the day-to-day operations of the business, while his brother, Alex Cassegrain, will continue as the head winemaker.

Philippe Cassegrain said that Avenir Vigneron had been formed in partnership with four other investors, Selva Saverimuttu, Shiana Tyler, and Bob and Link Bale.

Selva Saverimuttu is the owner of Port Stephens golf resort Horizons and Shiana Tyler is director of investment firm Binmint, while the Port Macquarie based Bob and Link Bale run the military contractor, Bale Defence.

Philippe Cassegrain said that all 20 staff members would be retained by Avenir Vigneron.

“It has been a difficult year for the whole industry let alone our business, but we’ve been very fortunate to come away with a great outcome for the business itself, our staff and clients and customers”, he said.

He said his father John Cassegrain would step back from a hands-on role running the business, but would still be on hand for advice.

“He’s been in the wine game for 40 to 50 years, his knowledge is world class, so he will definitely be very close to provide that support to Alex and myself,” Philippe Cassegrain said.

The name Avenir Vigneron hints at the Cassegrain family’s French winemaking roots, which can be traced back to 1643.

In English it translates as, “future winemaker”, which Alex Cassegrain said was decided on by the entire group.

“We thought that was the most fitting, because it is something that we’re going into the future with,” he said.

‘Significant’ debt owed to NAB

Alex Cassegrain said while some changes would be on the horizon, customers would be largely unaffected.

“For the first year there won’t be a huge amount of change to what we do, we don’t want to remake the wheel, we’ve got a very loyal customer base,” he said.

Based just outside of Port Macquarie, Cassegrain Wines, has been a stalwart of the Mid North Coast winemaking industry since it first opened its doors in 1985.

The director of administrator Shaw Gidley, Ben Ismay, said Cassegrain had been plagued for some time by the size of a debt owed to the National Australia Bank, which held a general security interest over the company’s assets.

“The size of that debt was so significant that the sale price that we’ve achieved will not be sufficient to pay the National Australia Bank out in full,” he said.

“There will be a partial return to the National Australia Bank.”