Treasury Wine Estates (TWE) has welcomed regulatory approval and settlement of a premium vineyard in Marlborough, New Zealand, following its announcement of the acquisition in November last year.
Located in the Wairau Valley, completion of the vineyard acquisition supports TWE’s plans to grow its New Zealand footprint, expanding from 505 hectares to 750 hectares.
The acquisition also aligns with TWE’s sustainability ambitions to ensure all waste streams are being used either on its vineyards or going through its wastewater plant.
The winemaker has shared plans to use grapes from the new acquisition in future vineyards of its New Zealand wine brands, such as Matua and Squealing Pig, as it sets out to increase supply of highly sought-after light varietals, including Sauvignon Blanc and Pinot Noir.
Kerrin Petty, TWE Chief Supply and Sustainability Officer, commented on the settlement of the acquisition.
“This expansion of our New Zealand footprint not only aligns with evolving consumer preferences, but also reaffirms our commitment to driving innovative and sustainable practices across all our sites and operations.
“From improving operational efficiencies with hybrid autonomous vehicles to driving water stewardship and zero waste to landfill by 2050, we’re making great strides against our ambitions in New Zealand, and I’m pleased that we can continue to do so with this new acquisition while maximizing wine production potential.”