Billionaire buyout of Wairarapa winery | Wairarapa News | Local News in Wairarapa
Billionaire buyout of Wairarapa winery
LOCK,STOCK: American billionaire William Foley has increased his Wairarapa holdings with his outright ownership of Te Kairanga Wines in Martinborough.
American billionaire William Foley has become the outright owner of Te Kairanga Wines in Martinborough.
The Overseas Investment Office in December approved the sale of a 5.12 per cent share, held by Bruce Clugston's Wineinc, in Foley Family Wines Holding NZ (FFW).
The FFW group bought Te Kairanga Wines last year for more than $11 million, according to documents from Land Information New Zealand.
Mr Foley and his wife, Carol, are owners of several American wineries and more than half of the luxury Wharekauhau Lodge in South Wairarapa.
Through the Te Kairanga Wines sale, approved in December, the couple have added to their portfolio the outright ownership of more than 130ha of freehold and leased viticultural land in Wairarapa, and almost as much in Marlborough.
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