Australian family-owned winemaker McWilliam’s Wines has entered into administration due to declining business and changing market conditions.

Based in the Riverina district of New South Wales (NSW), McWilliam’s Wines has been involved in winemaking business for more than a century.

It also established its presence in the Hunter Valley wine region through its Mount Pleasant estate.

In addition to selling its wine brands, McWilliam’s also distributed other global brands, including Taittinger, Mateus, Henkell and Mionetto in the Australian market.

The company has appointed administrators from KPMG Australia to scout buyers or investors to finance its operations.

KPMG partner Gayle Dickerson said: “We are in the initial phase of the administration process where our priority is to undertake an immediate assessment of the business and its operations.

“The company will continue to operate as normal and we are working with the McWilliam’s family with the support of its employees while we work hard to try and preserve one of Australia’s oldest winemakers.

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“We are seeking expressions of interest to recapitalise or acquire the group to take this heritage brand forward in the future both locally and globally.”

McWilliam’s Wines chairman Jim Brayne said: “The board had not made the decision to enter voluntary administration lightly. A number of factors contributed to a decline in business performance, including evolving structural market dynamics and capital constraints.

“We will work closely with the Administrator during the process in order to strengthen the prospects of a positive outcome for all involved,” Brayne added.