More than 250 hectares of Hawke's Bay vineyards, responsible for some of the region's award-winning wines, are up for sale.
The Wine Portfolio sales and marketing director Fiona MacDiarmid confirmed to Hawke's Bay Today that the company had put four Hawke's Bay vineyards up for sale.
Those included Colefield at Mangatahi, Campbell Brook at Bridge Pa, Tantallon at Bridge Pa, and Kinross at Crownthorpe.
In total, along with a vineyard in Marlborough, which was also for sale, 522 hectares, is for sale, with the company looking to sell all five as one lot. About 250ha of that is in Hawke's Bay,
The Katikati-based company is privately owned and is home to nine distinct brands, Coniglio, Mimi, IQ, Nikau Point, Mill Road, Southern Dawn, Penny Lane, Southern Cross and Cathedral Cove.
The company had acquired the vineyards between 1995 and 2001 but Ms MacDiarmid said the time "was now right" to sell.
"This is an opportunity to purchase a significant area of vines that have been accumulated over several years.
"We are looking to buy back the fruit for at least two years from settlement and will look at a longer-term arrangement including a management contract."
Water for irrigation is from consented wells or river take and there are 68 frost fans, strategically positioned across six vineyards for frost protection.
Capital improvements comprise two three-bedroom homes in Hawke's Bay on Tantallon and Kent vineyards, together with an assortment of appropriate sheds across the various properties.
The combined viticulture holding is being offered for sale by tender, closing 4pm on Wednesday, March 21.
The sale package also includes a 106.4ha net planted area of grapes at Tantallon, comprised of 16.1ha Chardonnay, 7.8ha Malbec, 26.54ha Merlot, 14.5ha Viognier, 5.9ha Cabernet Sauvignon, 26.4ha Syrah, and 8.5ha Pinot Gris.
The Wine Portfolio started in 1995 when John Coney purchased the Morton Estate.
Development and expansion of The Wine Portfolio continued throughout the late 1990s and 2000s, with further vineyard sites being acquired in Hawke's Bay and Marlborough.
In 2001 the Coniglio Chardonnay was introduced to the market setting a new standard for New Zealand Chardonnay by taking home the international Decanter Trophy two years in a row.
The company's newest labels, Falconhead and Leveret, were launched in 2014.
The company notched up a gold award at the Hawke's Bay Wine Awards for its Leveret Reserve Chardonnay and two golds at the premier Air NZ Wine Awards for its Leveret Chardonnay and Leveret Viognier. Its Leveret Reserve Merlot Cabernet is now in Air NZ business class.