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.
This article is tagged with the following keywords. Find out more about MyNBR Tags
Most listened to
- Who are the winners and losers in Labour's re-shuffle? Rob Hosking explains
- Head-to-head: Federated Farmers director Katie Milne and SAFE executive director Hans kriek debate dairy industry's treatment of bobby calves
- Full Flavour managing director Jesse Archer says Ultra Fast Fibre gave him the "two fingered salute"
- Sally Lindsay and Chris Hutching talk about the latest in property news in Property Talk
- Keep Our Assets Murray Horton on Christchurch Council asset sales