fosters take over rumours intensify

http://www.news.com.au/couriermail/story/0,23739,24488425-5013512,00.html

WHILE the world's stock markets have been front and centre in most people's minds of late, one of Australia's largest companies has attracted attention of a different kind.

Fosters, our major wine and beer producer, is the subject of some fairly serious takeover rumours and at least one major financial institution has been purchasing shares on behalf of an as-yet-unnamed client, possibly one of the massive multi-national brewers.

While this must be rather unsettling for winemakers, especially as all common wisdom suggests that many of the wineries – which include Wolf Blass, Penfolds, Wynns, Annie's Lane, Baileys, Jamiesons Run, Coldstream Hills, Devil's Lair, Lindemans, Seppelt, Saltram and many more – would be split off and sold individually, they can do nothing but keep making the best wine they can.

There has been a recent emphasis on riesling, with the team's winemakers suggesting 2008 is the best vintage in a decade.

They enjoy making riesling as it provides a sense of vintage and of place and exhibits the quality of a vineyard.

The Wolf Blass Gold Label is good, the Penfolds Bin 51 better but it is the Leo Buring range which really shines, especially the two Leonays. They could be cellared for more than a decade with no problem.

Even more exciting are developments in Tasmania.

Some readers may recall the old Heemskerk wines, pioneers in the move to quality wine in that state. Then it became part of Cellarmasters and doubts about the integrity of the wines surfaced. Heemskerk has been relaunched in impressive new packaging as a separate label and the quality is better than ever.

They are making three wines – a riesling, chardonnay and pinot noir, which range in price from around $45 to $65, so they are not for everyday drinking, but they are definitely special occasion wines.

The 2007 Coal River riesling is tight, intense and persistent, still a little austere, but offering oodles of limes and citrus. Look hard and there is even a hint of passionfruit.

The soon-to-be-released 2007 chardonnay (if you happen on any '06 in the meantime, don't hesitate) is elegant and fine, more so than its predecessor. Lovely juicy flavours and good integration of oak.

The 2007 Derwent Valley pinot noir is from a single vineyard with 18-year-old vines, quite old for Tassie. It offers spice, raspberry and gamey notes, one from the voluptuous end of the spectrum.

From 2008, expect two single vineyard pinots under the Heemskerk label.