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...

More Primary Sector

Aussie firm buys shuttered Gisborne sawmill
Primary Sector

Aussie firm buys shuttered Gisborne sawmill

Millari Group plans to hire workers and spend $50m upgrading the closed mill.

Oliver Lewis 11 Feb 2025
Comvita profit out by $4m, not $2m
Primary Sector

Comvita profit out by $4m, not $2m

Embattled honey firm uncovers further financial irregularities.

Staff reporters 10 Feb 2025
Meet NZ’s top ‘fish cop’ Steve Ham
Primary Sector

Meet NZ’s top ‘fish cop’ Steve Ham

Protecting NZ’s fisheries resources is his life’s work. 

Jem Traylen 06 Feb 2025
Zhiqiang Li takes helm as acting CEO of Westland Milk Products
Primary Sector

Zhiqiang Li takes helm as acting CEO of Westland Milk Products

Zhiqiang Li has taken the helm as acting chief executive of Westland Milk Products, effective today.The move follows the resignation of former CEO Richard Wyeth.Li will continue as executive director of Yili Group in Australia and New Zealand.Li said Wyeth joined the company four...

Rebecca Howard 31 Jan 2025