Alpha Ally One Ltd, a business owned by a Singaporean citizen, was granted consent to buy the more than 56ha block from Misha’s Vineyard Wines in Tarras-Cromwell Rd, Bendigo.
An overseas investment decision states the buyer intends to continue using the property as a vineyard, while increasing its plantable area.
A consent was granted as the investment was likely to benefit New Zealand.
The key benefits to likely result from the investment were economic in the form of capital investment, increased productivity, increased export receipts and the creation of employment, the decision said.
In a statement, vineyard co-founder and director Andy Wilkinson said the sale marked an important new phase for the wine producer and ensured continuity of production through a multi-year grape supply agreement.
‘‘This is a positive and strategic step for our business.’’
For customers and trade partners, the announcement represented ‘‘business as usual’’ for Misha’s Vineyard Wines, Mr Wilkinson said.
Misha’s Vineyard Wines would continue operating independently, producing and marketing its wines under the same brand and maintaining its relationship with customers and distribution partners.
The acquisition represented a significant investment in Central Otago and reflected confidence in the future of New Zealand’s premium wine sector.
‘‘We are delighted with the outcome and have every confidence in the new owners as custodians of the vineyard.
‘‘Their experience in producing premium New Zealand wines and commitment to quality gives us confidence that the vineyard will continue to thrive for many years to come.’’
Misha’s Vineyard was founded by Mr Wilkinson and Misha Wilkinson and celebrates its 20th vintage this year.
