Foley Family Wines New Zealand Enters Into Purchase Agreement With Te Kairanga Wines Ltd.
Producer, Marketer and Distributor of Fine Wine Acquires Luxury Martinborough Winery
HEALDSBURG, Calif., May 4, 2011 /PRNewswire/ -- Bill Foley, owner and operator of Foley Family Wines, announced that Foley Family Wines New Zealand has entered into a purchase agreement with Te Kairanga Wines of Martinborough, New Zealand.
Established more than 20 years ago, Te Kairanga (TK) is one of Martinborough's oldest wineries. Its vineyards are located on land once owned by the founding father of Martinborough, John Martin, in the late 1800s. In total, Te Kairanga owns or leases approximately 100 hectares of ultra premium vineyards and produces approximately 70,000 cases annually.
Martinborough is a leading source of New Zealand luxury wines. It offers cool, windy climate and well-draining soils that are perfect for a number of varieties. As the largest vineyard owner in Martinborough, TK has earned international acclaim for its benchmark Pinot Noirs.
According to Foley, "We are very excited about our latest acquisition. TK's extraordinary Pinot Noirs will be a great addition to our New Zealand portfolio plus the historic Martinborough location will allow our customers to take advantage of our nearby luxury resort, Wharekauhau."
The purchase includes all Te Kairanga vineyard holdings and the Cellar Door. Bruce Clugston, President of Foley Family Wines New Zealand, will assume responsibility for the management of Te Kairanga.
About Foley Family Wines
Foley Family Wines was established by Bill Foley in 1996 with the acquisition of Lincourt Vineyards in California's Santa Ynez Valley. Since then, Foley Family Wines has grown to become a major producer, marketer and distributor of highly-acclaimed, handmade wines from some of the world's greatest vineyards. Every brand in the company's portfolio is distinct and autonomous with its own identity, style, techniques and personnel. Foley Family Wines owns the following properties: Foley Estates (Santa Rita Hills, CA), Lincourt Vineyards (Santa Ynez Valley, CA), Merus (Napa Valley, CA), Chalk Hill (Sonoma County, CA), Sebastiani (Sonoma County, CA), Kuleto (Napa Valley, CA), Altvs (Napa, CA), Three Rivers Winery (Walla Walla, WA), Firestone Vineyard (Santa Ynez Valley, CA), Eos (Paso Robles, CA), Vavasour (Marlborough, New Zealand), Clifford Bay (Marlborough, New Zealand). Bill Foley is currently Chairman of the Board of Directors for Fidelity National Inc and Executive Chairman of Fidelity National Information Services. Both are Fortune 500 companies.
SOURCE Foley Family Wines
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