US investor spends $20m on Laurence Wines

One of Australia’s best known winemaking families, the Oatley Wine Group, will open a cellar door in the Margaret River region, part of what’s believed to be the largest value sale ever for a winery in Western Australia. The winery – Laurance Wines – has been sold to a US-based investor, reportedly New York-based real estate developer, philanthropist and wine enthusiast Howard Milstein, in a deal worth $20 million. Part of the Laurance property will be leased to the Oatley family, with another part of the estate to go to local winemaker Larry Cherubino Wines.