Pernod Ricard NZ buys vineyards for $49.5m

Pernod Ricard NZ buys vineyards for $49.5m
Pernod Ricard has plenty of Marlborough vineyards. (Image: Depositphotos)
Paul McBeth
Pernod Ricard Winemakers New Zealand has taken more control of its supply chain, spending $49.5 million to buy vineyards it previously leased and settling the remaining lease for $9.2m. The local arm of the multinational liquor firm – Millstream Equities – reported a net profit of $14.2m in the 12 months ended June 30, down from $17.6m a year earlier when the bottom line was bolstered by an $11.4m tax benefit, financial statements lodged with the Companies Office show. Pre-tax profit rose to $19.4m from $6.2m in the June 2...

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