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Article: New Zealand: southern magnet for North American investment.(wine industry in New Zealand)(Industry Overview)
- Article from:
- Wines & Vines
- Article date:
- October 1, 2003
- Author:
CopyrightCOPYRIGHT 2003 Wines & Vines. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Not so long ago, the closest your average Californian vintner would get to owning a bit of New Zealand--terra incognita to many in the business until, say, 10 years ago--was in the form of a much-coveted bottle of Cloudy Bay Sauvignon blanc.
Times have changed. U.S. producers no longer consider New Zealand an obscure pair of islands floating around somewhere off the coast of Australia. New Zealand is hot property for wine producers, and a growing number of North American investors seem keen to get a piece of the Kiwi action. According to the 2003 edition of The New Zealand Wine Industry Review, over the past seven years American investors have bought more ...