After months of uncertainty, Cassegrain Wines has sold to a local group of investors.
In good news for the Port Macquarie economy, all staff will be retained following the purchase by new venture Avenir Vigneron.
Alex and Philippe Cassegrain will remain in the business, Alex continuing as winemaker with Philippe overseeing operations.
The sale comes after the company entered voluntarily administration in June and was put on the market by insolvency firm Shaw Gidley a month later.
Philippe Cassegrain said he is relieved the winery's staff, equal to 20 full-time positions, are staying on.
"The most important people in the business are the staff and we managed to hold onto all but everyone through the process," he said.
"The staff know that the business is a good business, they like working here and we fought to keep them."
Avenir Vigneron has six investors. Joining the Cassegrains are Selva Saverimuttu, Shiana Tyler, Bob and Link Bale.
Mr Saverimuttu owns Port Stephens golf resort Horizons and Ms Tyler is director of investment firm Binmint. The Bales, of Port Macquarie based military contractor, Bale Defence, have also come on board.
Mr Cassegrain said customers will notice little change in the day to day operations of the winery.
"There's no difference there for the consumer or our clients, everything is still Cassegrain Wines," he said.
"It's just a really positive way forward after a difficult period of liquidation."
The award-winning winery faced an uncertain future after a number of setbacks in recent years including a year's crop destroyed by bushfire, disruption through the COVID pandemic and a China trade tariff.
John and Eva Cassegrain planted their first vineyard near Port Macquarie in 1980 and opened Cassegrain Wines on December 16, 1985.
Philippe Cassegrain confirmed his father John will be stepping back from a hands on role running the business.
"He'll have a bit of an advisory role just because he's Alex and myself's father but he won't be in the day to day business," he said.
With restaurant Twotriplefour relocating after the winery entered voluntary administration on June 8, Mr Cassegrain said guests to the Winery Drive venue can expect a few changes.
"There will be changes around what the customers can do whilst on site," he said. "We have a new restaurant that's going to be starting in the near future with more information to come.
"That's really exciting but effectively it's bringing back the winery to what it should be which is a tourism hotspot for the Mid North Coast as well as shipping wines across Australia and the world."
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