- Release Date: 25/01/13 12:30
- Summary: ASSET: DGL: Market Update - Acquisition of Hawke's Bay Winery and Viney
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DGL 25/01/2013 10:30 ASSET REL: 1030 HRS Delegat's Group Limited ASSET: DGL: Market Update - Acquisition of Hawke's Bay Winery and Viney Delegat's Group Limited announces that it has today acquired the winery and vineyard assets of Matariki Wines Limited (In Receivership) and Stony Bay Wines Limited (In Receivership) for $8.5 million. The vineyard of 61 hectares is predominately planted with Merlot, Cabernet Sauvignon and Syrah and the winery has a processing capacity of 600 tonnes. Jim Delegat, Managing Director, says: "The acquisition of this property now means Delegat's owns 20% of the prime 'Gimblett Gravels' appellation". Delegat's Hawke's Bay vineyard holdings now total 500 hectares. Delegat's has over the last six months acquired two properties in Marlborough: - The acquisition of a fully productive vineyard of 121 hectares - predominately planted with Sauvignon Blanc located in the Wairua Valley. - The acquisition of 91 hectares bare land in the Awatere Valley. The Company intends to plant Pinot Noir in the spring of 2013. Jim Delegat, Managing Director, says: "The Group continues to grow long-term demand for its branded wines, and the investment in these high quality vineyards supports our supply requirements". For further information, please contact: Jim Delegat Managing Director Delegat's Group Limited Ph: 09-359-7300 Mobile: 021 886 698 End CA:00232320 For:DGL Type:ASSET Time:2013-01-25 10:30:04
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