As announced by the Australian wine giant Treasury Wine Estates (TWE), the company plans to acquire a new "premium winery in Marlborough" in the first quarter of 2024. The acquisition is pending approval from the relevant authorities. This would expand TWE's winery area in New Zealand from 505 to 750 hectares (about 1850 acres). In response to an inquiry from the German trade magazine Weinwirtschaft, TWE mentioned that they cannot yet reveal the name of the winery to be purchased or the amount of the investment, stating that this information will be provided after the completion of the acquisition.
The grapes from the new vineyards are intended for use in TWE’s "Matua" and "Squealing Pig" brand wines. "The acquisition of the new vineyard, which includes its own water reservoir, is a significant step in expanding our premium wine portfolio and ensures that we are always one step ahead in meeting changing consumer preferences," said Kerrin Petty, Chief Supply and Sustainability Officer at TWE. The company also recently disclosed its purchase of the Californian Daou vineyard for 900 million dollars.