New Zealand is one of the fastest growing categories of wine sold in the U.S. Imports grew 13% in 2013 and the value of imports has shown double digit increases for the past five consecutive years to equal nearly $300 million last year. The U.S. is now New Zealand’s second largest wine market behind Australia, and some in the industry predict that the U.S. may advance to become its biggest market within a few years. U.S. businesses and investors are also taking note of the New Zealand wine industry. Foley Family Wines of California with such brands as Lincourt, Kuleto, Chalk Hill, Sebastiani, Merus, and Firestone, bought Martinborough Vineyard Estates earlier this year adding it to their New Zealand brands of Te Karinga, Grove Mill, and Vavasour. Foley now manages more than 1,100 acres of vines and produces 550,000 cases of New Zealand wines. The investment group Terroir Selections acquired a controlling share of New Zealand brand Trinity Hills in February adding its first New Zealand property to its portfolio. An increasing base of wine drinkers in the country, affordable land, no water constraints as are currently being felt in California, a stable government, and small population open to foreign investment are all making New Zealand appealing to investment in the country’s wine industry. To read further:
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