Delegats expands in Hawke’s Bay

Jim Delegat

Free audio stream, including stories that are padlocked on our site. Listen on any device, anywhere. Updated twice daily. The audio stream takes several seconds to start on Android devices.

Launch Radio player

Consolidation in the wine-making industry is continuing with Delegat's Group paying $8.5 million for the vineyard and winery assets of Matariki Wines and Stony Bay Wines, which are in receivership.

The deal allows the listed owner of the Oyster Bay wine brand to increase its vineyard holdings in Hawke's Bay by 61ha to 500ha.

"The acquisition of this property now means Delegat's owns 20 percent of the prime Gimblett Gravels appellation," managing director Jim Delegat said.

The vineyard purchased is planted with merlot, cabernet sauvignon and syrah, and the winery has a processing capacity of 600 tonnes.

During the last six months, Delegat's has also bought two properties in Marlborough – a 121ha vineyard in the Wairua Valley and 91ha of bare land in the Awatere Valley.

(BusinessDesk)


Got a question about this story? Leave it in Comments & Questions below.

This article is tagged with the following keywords. Find out more about MyNBR Tags

Comments & Questions

Commenter icon key: Subscriber Verified

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot

Forex

Sym Price Change
USD 0.6377 -0.0081 -1.25%
AUD 0.8939 -0.0099 -1.10%
EUR 0.5659 -0.0104 -1.80%
GBP 0.4141 -0.0049 -1.17%
HKD 4.9422 -0.0634 -1.27%
JPY 77.0180 -1.2940 -1.65%

Commods

Commodity Price Change Time
Gold Index 1134.7 1.380 2015-08-31T00:
Oil Brent 54.1 4.100 2015-08-31T00:
Oil Nymex 49.2 3.980 2015-08-31T00:
Silver Index 14.6 0.040 2015-08-31T00:

Indices

Symbol Open High Last %
NZX 50 5656.2 5664.2 5656.2 -0.63%
NASDAQ 4798.7 4824.6 4828.3 -1.07%
DAX 10201.0 10273.5 10298.5 -0.38%
DJI 16632.0 16632.0 16643.0 -0.69%
FTSE 6192.0 6247.9 6192.0 0.90%
HKSE 21692.8 21692.8 21670.6 -0.47%
NI225 18763.7 18777.5 18890.5 -1.86%