Foley Strikes Again, Acquiring Another New Zealand PropertyMay 4, 2011
Foley Family Wines is set to bring another property into its fold with the acquisition of Martinborough, New Zealand’s Te Kairanga, a luxury producer known for Pinot Noir. Te Kairanga produces around 70,000 cases annually and owns or leases about 100 hectares (247 acres) of what Foley calls ultra-premium vineyards in Martinborough, where it’s the area’s largest vineyard owner. Bruce Clugston, president of Foley Family Wines New Zealand—which also includes Marlborough’s Vavasour and Clifford Bay properties (acquired in 2009)—will assume responsibility for the management of Te Kairanga. Clugston joined Foley just last month, through Foley Family Wines’ acquisition of a non-controlling stake in Australia’s Wineinc (including the Gotham, Wine Men of Gotham, Stalking Horse and StepXStep brands), which he co-founded.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.