Former Screaming Eagle owner buys vineyard in South Africa
on 02/01/11 at 12:40 pmWine
A high-powered American whose California winery used to sell wine for around R8 000 a bottle has bought Mulderbosch, an estate in the prime Koelenhof area of Stellenbosch, for an undisclosed sum.
He is just one of a number of wealthy foreigners who are moving into the Cape winelands in a big way.
American Charles Banks, who used to own the cult California winery Screaming Eagle, heads the California-based investment group Terroir Capital which has bought Mulderbosch.
Banks is a former president of CSI Capital Management, which handles investments for millionaire professional athletes drawn from the football, basketball and baseball world. Punk rockers Green Day and Hollywood movie stars were also reportedly his clients.
Andre Morgenthal, spokesman for Wines of South Africa (Wosa), said the amount of international investment in the local wine industry was definitely a vote of confidence in South Africa.
“We don’t need to feel inferior to any other winemaking region in the world,” said Morgenthal.