Trust announces Christmas present for the NZ wine industry
Trust announces Christmas present for the New Zealand wine industry
Directors of Wine Competition Ltd, the company that owns and organises the Spiegelau International Wine Competition and Marlborough Wine Show, have established a Trust to fund initiatives designed to enhance the success of the New Zealand wine industry.
Margaret Cresswell and Belinda Jackson established Wine Competition Ltd in 2011as an independent company that owns and organises wine competitions and associated events in New Zealand. Knowing that there were a significant number of unopened bottles following the judging process, the pair decided to establish a Trust to which these bottles were donated. The Trust then auctions the wine with the objective of returning the ensuing funds to the industry.
Trustee, Belinda Jackson explains, “Producers pay to submit their wines for the judging process and send us samples. Though we request the least number possible – just three bottles, we feel strongly that those not used should be returned to the industry somehow.” She continues, “The easiest way is to monetise them and then offer that money back in the form of funding for industry grants and scholarships.”
In addition to Cresswell and Jackson, two independent Trustees have been appointed. Financial Advisor, Ross Frater of Core Advice Ltd and grape grower Stuart Smith, former Chair of New Zealand Winegrowers.
After three years - six wine competitions and therefore six auctions – the Trust is now calling for funding applications from research and educational organisations. Applications are to be registered with the Trust by 17 January 2014 and the successful applicant will be announced on 31 January, 2014.