mark turnbull

US billionaire buys NZ Wine Fund

Fri 7 Aug 09

Fidelity National executive chairman Bill Foley is expanding his wine business Down Under with the purchase of up to 100% of the shares in the New Zealand Wine Fund.

Established in 2002, the NZ Wine Fund produces premium and ultra-premium wines marketed under the Goldwater, Dashwood, Vavasour, Clifford Bay, Boatshed Bay and Redwood Pass brands.

The deal includes 100ha of vineyards, capable of producing up to 350,000 cases of mostly Sauvignon Blanc wine a year.

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