Marlborough winery buys more land
Cloudy Bay Vineyards has been given the go ahead from the Overseas Investment Office to buy freehold land for sauvignon blanc planting.
The Marlborough wine company planned to purchase 11.7 hectares at Bedford Road, near Renwick, from vendors Dean and Sarah Cross, and Dene Ellwood, trustees of the Cross Trust.
Cloudy Bay Vineyards will use the land to secure supply of grapes to increase production and sales of premium-quality sauvignon blanc from Marlborough.
The intended purchase, deemed an overseas investment transaction of sensitive land, satisfied section 16 of the Overseas Investment Act 2005, in being a "substantial and identifiable benefit to New Zealand," the OIO reported.
Cloudy Bay Vineyards is 66 per cent owned by Louis Vuitton Moet Hennessy SA, France, and 34 per cent owned by United Kingdom-based Diageo Plc.
In February, Cloudy Bay Vineyards was given consent by the OIO to buy 46 hectares of land in Cromwell, in Central Otago, to secure supply of grapes and increase production of pinot noir.
- The Marlborough Express