Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


New owner to grow New Zealand wine brands

Tuesday, April 1, 2014
New owner to grow New Zealand wine brands

A suite of award-winning New Zealand brands have today been acquired by leading Australian wine company, Accolade Wines, which plans to use its global reach to grow the brands.

The deal, announced last November pending Overseas Investment Office approval, has been finalised following regulatory approvals, and includes the Mud House, Waipara Hills, Dusky Sounds, Haymaker and Skyleaf brands and their assets and operation of Waipara Hills cellar door and café.

Accolade Wines General Manager Asia Pacific, Michael East, said the company had been keen to enhance its portfolio of New World wine brands and had been looking for brands which would complement its existing portfolio for some time.

“These brands are outstanding and cover varietals from key regions such as Marlborough for Sauvignon Blanc, Central Otago for Pinot Noir and aromatics from the Waipara Valley including Riesling and Pinot Gris,” Mr East said.

He said the purchase would cement Accolade’s global strategy of delivering a full service New World wine proposition across the value, mid-market and premium categories.

Accolade Wines will be retaining the New Zealand team, headed by Mr MJ Loza, (who will be General Manager of Accolade Wines in New Zealand), along with key personnel including winemakers, viticulturalists, and equally crucially will be taking on existing growers/suppliers.

Mr Loza said it was an important opportunity for the NZ business which would now have the backing of a very experienced global operator with plans to grow the brands in key markets such as the United Kingdom, the United States and Asia.

“We will essentially be the same team, the same winemakers, the same viticulturalists and importantly the same growers, and now also with the backing of a company that goes back over a hundred years, and has an export heartbeat.

“New Zealand consumers are familiar with our brands, and Accolade’s brands including Hardys and Banrock Station. We’re now working with Accolade so that Mud House and Waipara Hills will have access to the export customer base in 100 countries that Accolade has grown over the past 160 years.

“Existing distributor relationships for the suite of Mud House brands and Accolade brands in New Zealand will not change,” Mr Loza said.

Accolade Wines New Zealand Ltd, trading as Accolade Wines, takes ownership of the New Zealand brands and their assets from April 1, 2014.

-END-

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Strike: Lyttelton Port Workers Vote To Escalate Dispute

Members of the Rail and Maritime Transport Union (RMTU) at Lyttelton Port today voted to escalate their industrial action. Around 200 RMTU members have been operating an overtime ban since 17 December and today they endorsed a series of full withdrawals of labour at the port. More>>

ALSO:

Scoop Business: NZ Dollar Falls To 3-Year Low As Investors Favour Greenback

The New Zealand dollar fell to its lowest in more than three years as investors sold euro and bought US dollars, weakening other currencies against the greenback. More>>

ALSO:

Scoop Business: NZ Govt Operating Deficit Smaller Than Expected

The New Zealand’s government’s operating deficit was smaller than expected in the first five months of the financial year as a clampdown on expenditure managed to offset a shortfall in the tax-take from last month’s forecast. More>>

ALSO:

0.8 Percent Annually:
NZ Inflation Falls Below RBNZ's Target

New Zealand's annual pace of inflation slowed to below the Reserve Bank's target band in the final three months of the year, giving governor Graeme Wheeler more room to keep the benchmark interest rate lower for longer.More>>

ALSO:

NASA, NOAA: Find 2014 Warmest Year In Modern Record

Since 1880, Earth’s average surface temperature has warmed by about 1.4 degrees Fahrenheit (0.8 degrees Celsius), a trend that is largely driven by the increase in carbon dioxide and other human emissions into the planet’s atmosphere. The majority of that warming has occurred in the past three decades. More>>

ALSO:

Scoop Business: New Zealand’s Reserve Bank Named Central Bank Of The Year

The Reserve Bank of New Zealand’s efforts to stifle house price inflation by using new policy tools has seen the institution named Central Bank of the year by Central Banking Publications, a publisher specialising in global central banking practice. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news