NZ: Ascension Wine Estate up for sale - report
New Zealand's smaller wineries found it tough last year
New Zealand's Ascension Wine Estate is up for sale after going into receivership, according to reports.
The 7.56-hectare winery in the town of Matakana, near Auckland, posted a message on its website earlier this month confirming it was in receivership. The business is now on the market, valued at $2.3m (US$1.9m) the New Zealand Herald reported today (30 May). The winery, founded by Darryl and Bridget Soljan in 1994, will continue to operate as normal during the selling period, it was reported.
A survey last year said New Zealand's main winemakers had posted strong profits despite a reduced harvest but that smaller wineries were finding it tough to stay in the black.
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