Long-established Japanese brewer, Nishi Sake, has won Overseas Investment Office approval to buy Wairarapa vineyard, Urlar Farms, for $8.75 million.
According to its application, Nishi Sake is a family company which has specialised in distilled beverage production for eight generations.
Nishi Sake had recently expanded its product offering to include
sake, bottled water and other Japanese soda drinks and now wishes to further expand to add New Zealand wine.
"The applicant believes that with its strong beverage distribution network in Japan, (which gives them access to a substantial number of restaurant clients), it can make Urlar Estate a well known and premium brand both in New Zealand and overseas," the OIO application said.
Nishi said likely benefits from the Investment included a 50 per cent increase in staffing at the vineyard, the additional funds for development for a new barrel room and cellar door and a five-fold increase in export receipts generated from the Investment within the next 5 years.
