Delegats expands in Hawke’s Bay

Jim Delegat

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)

This article is tagged with the following keywords. Find out more about My 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 0.7465 0.0030 0.40%
AUD 0.9388 0.0003 0.03%
EUR 0.6557 -0.0056 -0.85%
GBP 0.4910 -0.0020 -0.41%
HKD 5.7870 0.0229 0.40%
JPY 87.7400 -0.4210 -0.48%

Commods

Commodity Price Change Time
Gold Index 1279.4 -13.200 2015-01-26T00:
Oil Brent 49.4 -0.560 2015-01-26T00:
Oil Nymex 45.1 -0.410 2015-01-26T00:
Silver Index 18.0 -0.320 2015-01-26T00:

Indices

Symbol Open High Last %
NZX 50 5698.7 5737.7 5698.7 0.69%
NASDAQ 4698.2 4702.3 4771.8 -1.77%
DAX 10785.9 10810.6 10798.3 -1.52%
DJI 17638.5 17638.5 17678.7 -2.11%
FTSE 6852.4 6865.0 6852.4 -0.60%
HKSE 24995.1 24995.1 24909.9 -0.41%
NI225 17649.4 17768.4 17468.5 1.72%