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News
Delegat buys NZ$29m Hawke’s Bay farm
The Delegat Group, producer of Oyster Bay and Delegat wine brands, has purchased an 838 acre farm in Crownthorpe, part of New Zealand’s Hawke’s Bay region.
A vineyard in New Zealand’s Hawke’s Bay (Photo: Wiki)
The NZ$29 million (£14.2m) investment is part of a long-term growth strategy and provides prime grape-growing conditions, the company said.
Graeme Lord, Delegat Group managing director, said it will help support the producers’ premium portfolio.
“The significant land acquisition will enable Delegat Group to meet strong growth in global demand for its super premium wines, including Oyster Bay pinot gris and sparkling wine,” he said.
Delegat is planning to turn the working farm into vineyards, with planting scheduled to begin in spring 2017 following the completion of the purchase in May next year.
It is estimated that the land could produce around 550,000 9 litre cases of wine per year when it begins full production.