Kirin Unit to Become New Zealand’s 2nd-Biggest Wine Seller
on 19/10/10 at 7:42 amIndustry
Kirin Holdings Co.’s Lion Nathan unit will become New Zealand’s second-largest wine distributor after acquiring brands and wineries from Pernod-Ricard SA for NZ$88 million ($66 million) through a joint venture.
Lion Nathan will acquire 12 brands, including sparkling wine label Lindauer, and the Sydney-based company’s partner Indevin will buy vineyards from Pernod-Ricard in the North Island’s Gisborne and Hawke’s Bay regions, the companies said yesterday in a joint statement.
The deal makes Lion Nathan the largest wine distributor in New Zealand after Pernod-Ricard. Lion Nathan acquired the brands to add more affordable labels to its wine business, which primarily included bottles costing more than NZ$15, Neil Hinton, a company spokesman, said by phone today.