Foley buys New Zealand winery
Published: Wednesday, May 4, 2011 at 5:33 p.m.
Last Modified: Wednesday, May 4, 2011 at 5:33 p.m.
Bill Foley, owner of Chalk Hill and Sebastiani wineries in Sonoma County, announced a deal Wednesday to buy a 70,000-case winery in New Zealand.
Te Kairanga Wines is the latest addition to Foley Family Wines' fast-growing portfolio, bringing the Healdsburg-based company's total production to about 950,000 cases annually. The figure includes about 33,000 cases from his partial acquisition last month of a 100,000-case wine company in Australia.
Financial terms were not disclosed. Foley owns the nearby New Zealand resort, Wharekauhau.
Foley paid an estimated $70 million last year for Chalk Hill Winery, bought Sebastiani Winery in 2008 and bid unsuccessfully this year for Fetzer Vineyards in Mendocino County, which sold to a Chilean producer for $238 million. He is still looking to acquire a flagship winery on Highway 29 or Silverado Trail in Napa County, he said recently.
Bruce Clugston, president of Foley Family Wines New Zealand, will assume responsibility for the management of Te Kairanga.
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