Te Kairanga Sold to American

Martinborough’s Te Kairanga Wines, renowned for its pinot noir, has been purchased by American businessman Bill Foley. Te Kairanga is the largest holder of vineyard land in the Martinborough region. The price was not disclosed, but the winery was established more than 2 years ago and owns or leases about 1 hectares of premium vineyards. The purchase provides a counterweight to Foley’s other New Zealand wineries. Vavasour and Clifford Bay, both located in Marlborough, are best known for their sauvignon blancs. “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,” Foley said. Foley, who chairs two US Fortune 5 companies, started his wine business in 1996 with the acquisition of Lincourt Vineyards in California’s Santa Ynez Valley.