Treasury Wine Estates expands presence in New Zealand
Australian producer Treasury Wine Estates (TWE) has announced plans to acquire a “substantial” Marlborough vineyard, expanding its local footprint from 505 to 750 hectares to grow its New Zealand presence.
The acquisition of the vineyard at 4336 State Highway 63, Wairau Valley 7271, New Zealand is subject to regulatory approval and is expected to settle in the first quarter of 2024, the company has said.
The sale will increase supply of lighter varietals including Sauvignon Blanc and Pinot Noir.
Kerrin Petty, Treasury Wine Estates chief supply and sustainability officer, said the acquisition was an “important step in expanding our premium wine portfolio and ensuring we remain in front of evolving consumer preferences”.
Grapes from the new vineyard will be used in future vintages of the company’s New Zealand wine brands including Matua and Squealing Pig.
Petty said: “Consumers love our New Zealand wines — particularly in the U.S where Matua is known as one of their ‘hot brands’. We want to keep making the wines that consumers love and with lighter varietals continuing to trend, this additional vineyard will ensure we can keep up with consumer demand — now and well into the future.”
This acquisition announcement coincides with the 50th anniversary of TWE’s New Zealand brand Matua, the first winery to plant Sauvignon Blanc vines in New Zealand in 1969, which produced its first bottle of New Zealand Sauvignon Blanc in 1974.
The purchase follows TWE’s recent acquisition of US wine brand Daou Vineyards, as well as the addition of Beenak vineyard in the Yarra Valley in Victoria, Australia and a French Chateau and vineyards in Bordeaux, France.