Northburn Station Wine Company for sale
The sale of a Central Otago vineyard to a global luxury goods group will be a boost for the region and expand its reputation as a top-quality Pinot Noir growing area worldwide, the Northburn Station chief executive says.
Northburn Station chief executive Tom Pinckney said in a statement the Northburn Station Wine Company, in Cromwell, had entered into a conditional agreement to sell the Northburn vineyard and The Shed to Cloudy Bay Vineyards.
Cloudy Bay was part of Moët Hennessy Estates & Wines, a division of Moët Hennessy. Moët Hennessy, in turn, was part of LVMH, the global luxury goods group, he said
He and his wife Jan would continue to manage and operate the Cellar Door, Restaurant and Function Venue during the transition to Cloudy Bay, he said.
"We view this sale as a boost for the region, expanding the reputation of Central Otago wine around the globe as a top quality Pinot Noir growing area.
"Our agreement with Cloudy Bay is conditional on a couple of matters, including Cloudy Bay obtaining OIO (Overseas Investment Office) approval. You may see the vineyard and The Shed being advertised soon which is a necessary pre-requisite for the purposes of the Overseas Investment Act."
Northburn Station as a wine brand would continue and The Shed at Northburn Station was open for business as usual, he said.
"We will continue to make our own wine under the Northburn Station brand, which will be available as usual through The Shed, at selected retail outlets and restaurants and of course through our wine club."
The Southland Times