Expanding Into New Zealand
U.S. company agrees to buy Vavasour, Goldwater and Clifford Bay
Posted: Aug 11, 2009 9:30am ET
The news that American Bill Foley and his Foley Family Wines have agreed to buy a tidy little group of New Zealand wineries could be a positive development. The wines and consumers could benefit significantly. Generally, Foley looks for wine companies that are doing well but, in his view, can do better with an infusion of cash and can benefit from synergy with the rest of his wineries. That describes New Zealand Wine Trust Ltd., the company he agreed last week to buy.
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