AUS/NZ: Treasury Wine Estates takes full control of Rapaura Vintners
TWE has upped its presence in Marlborough
Treasury Wine Estates (TWE) has strengthened its foothold in Marlborough by taking full control of contract winemaker Rapaura Vintners.
The group said yesterday (31 October) it has completed the acquisition of the 50% of Rapaura it did not already own from Babich Wines. Financial details of the deal were not disclosed.
TWE previously upped its stake in Rapuara last year after teaming up with Babich Wines to buy out the third stakeholder, Goldwate.
Rapaura's winery, packaging and warehouse facility, in Wairau Valley, Marlborough, will now be known as Matua Marlborough, TWE said.
TWE plans to expand the facility to increase the crush capacity from 15,000 tonnes to 25,000 tonnes in fiscal 2013.
“This investment strengthens our foothold in Marlborough, one of New Zealand’s premier wine regions, and signals the confidence we have in our brands, both in New Zealand and on the world stage,” said Sam Glaetzer, TWE’s New Zealand director of wine production and brands.
Rapaura Vintners, set up in 1995, was the first contract winery established in New Zealand, according to the company's website.
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