| Decision |
Consent granted |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 18 September 2023 |
| Pathway(s) | Benefit to New Zealand (Benefit to New Zealand - Farm land) |
| Investment | Cloudy Bay Vineyards Limited - The acquisition of a freehold interest in approximately 10.1370 hectares of land together with a vineyard located at 123 Giffords Road, Rapaura, Marlborough. |
| Consideration | Withheld under section 9(2)(b)(ii) of the Official Information Act 1982 |
| Applicant |
Cloudy Bay Vineyards Limited |
| Vendor | Whitey Investments Limited New Zealand (100%) |
| Background |
The Applicant is an established New Zealand winemaker, well-known for its Sauvignon Blanc wine which represents approximately 80% of its annual production of which 98% is exported. Cloudy Bay is ultimately 66% owned by LVMH Moёt Hennessy Louis Vuitton SA, a multinational luxury brand conglomerate, and 34% owned by Diageo plc, a United-Kingdom based alcohol beverage company. The Applicant seeks to acquire the Land to expand its current production of Sauvignon Blanc vines. The Applicant also plans to introduce additional investment for development purposes into New Zealand, including the purchase of new stainless steel tanks, a tractor and other vineyard equipment. The investment is likely to result in additional capital for development purposes, increased export receipts (premium price for its wine distributed through its luxury goods distribution network) and increased jobs. The Applicant’s long track-record of wine production and its existing global distribution networks will assist in its ability to command a premium overseas as compared to average New Zealand Sauvignon Blanc prices. |
| More information |
Catherine Reid |