NEW ZEALAND – Treasury Wines Estates, an Australia-based winemaking and distribution business has, announced plans to acquire a vineyard in Marlborough in a bid to expand its footprint in New Zealand. 

The premium vineyard is situated at 4336 State Highway 63, Wairau Valley 7271, is expected to close in the first quarter of 2024. 

In a recent report by the company, the planned vineyard acquisition will increase the company’s hectarage to 750ha in the region where its other New Zealand vineyards are located. 

 According to the winemaker, the premium vineyard will help to boost the supply of its famous Sauvignon Blanc and Pinot Noir, and further develop its New Zealand Matua and Squealing Pig brands. 

The Marlborough acquisition will mark the fourth vineyard purchase by the winemaker in the past two years.  

Earlier last month, the group added California’s Daou Vineyards to its roster through a $900m deal, a deal that could rise to $1bn under an earn-out clause. 

Over the past year, the group has also purchased the Beenak Vineyard in Yarra Valley, Victoria, Australia, and bagged a majority stake in the 390ha Chateau Lanessan winery in Bordeaux, France. 

Commenting on the news, Treasury Wine Estates Chief Supply and Sustainability Officer, Kerrin Petty said: “The acquisition of the new vineyard, which includes its own water reservoir, is an important step in expanding our premium wine portfolio and ensuring we remain in front of evolving consumer preferences. 

“Consumers love our New Zealand wines – particularly in the U.S where Matua is known as one of their ‘hot brands’. We want to keep making the wines that consumers love and with lighter varietals continuing to trend, this additional vineyard will ensure we can keep up with consumer demand – now and well into the future.” 

According to TWE’s full-year results released in August, net sales revenue declined 2.2% to $2.4bn, which it accredited to premium portfolio volume declines in Treasury Americas and commercial portfolio volume declines in Treasury Premium Brands.