Yealands in expansion mode
Yealands Wine Estate has just bought a 266-hectare sheep and beef farm adjoining the company’s 1000 hectare vineyard in the Awatere Valley. They plan to develop the property into a vineyard. Yealands Wine Estate paid $4.35 million for the property
Yealands Wine Estate (tastings), which was established in 2008, is New Zealand’s sixth largest wine producer. Last year Marlborough Lines purchased 80% of the company. Founder, Peter Yealands, retains 15% of the company. Fully developed vineyards in Marlborough are currently fetching around $200,000 per hectare. Many are being snapped up by the larger wine companies as suitable vineyard land becomes increasingly scarce.
Yealands Wine Estate purchased the small Hawke’s Bay winery, Crossroads (tastings), in 2011 and has just moved winemaking from Hawke’s Bay to Marlborough. There are plans to source grapes from Hawke’s Bay and other New Zealand regions for processing at their large winery in Marlborough’s Awatere Valley.