Takeover at Tohu Wines

Wakatu Incorporation has taken complete control of Marlborough wine company Tohu Wines.

Wakatu is a private company owned by Maori from the top of the South Island and based in Nelson.

Wakatu Incorporation chief executive Keith Palmer said it had increased its half-share in Tohu Wines by buying out Motueka-based Rarua Atiawa Iwi Trust and Wi Pere Trust of Gisborne for a complete shareholding in the company.

Tohu Wines was established in 1998 as the first Maori-owned winery, and has vineyards in Marlborough, Nelson and Gisborne.

Mr Palmer would not say how much the share purchase had cost.

Wakatu bought the shares to reinforce its food and beverage brands, and saw significant potential in Tohu, he said.

The company produces about 80,000 cases of wine a year, with 80 per cent of this exported under its two labels, Kono and Tohu, mostly to North America and Australia.

Mr Palmer said the company was working with partners to expand into the Asian market as well as increasing its domestic market.

Wakatu's Awatere and Whenua Matua vineyards would be absorbed into Tohu Wines, he said.

Wakatu Incorporation also owns Blenheim-based Aotearoa Seafoods, the country's fourth-largest producer of greenshell mussels, based in Blenheim.

- The Marlborough Express