Northburn Station Sells Vineyard and The Shed to Louis Vuitton Moët Hennessy (LVMH)
From: Tom Pinckney, CEO
We are very excited to share with you the news that Northburn Station Wine Company has entered into a conditional agreement to sell the Northburn Vineyard and The Shed to Cloudy Bay Vineyards. Cloudy Bay is part of Moët Hennessy Estates & Wines, a division of Moët Hennessy. Moët Hennessy, in turn, is part of LVMH, the global luxury goods group. Check out their website at www.lvmh.com.
Jan and I will continue to manage and operate the Cellar Door and Function Venue during the transition to Cloudy Bay. The Cellar Door is open for tastings and wines sales by appointment. The Shed continues to be available for Functions.
We view this sale as a boost for the region, expanding the reputation of Central Otago wine around the globe as a top quality Pinot Noir growing area.
Our agreement with Cloudy Bay is conditional on a couple of matters, including Cloudy Bay obtaining OIO (Overseas Investment Office) approval. You may see the vineyard and The Shed being advertised soon which is a necessary pre-requisite for the purposes of the Overseas Investment Act.