In the first sale of its kind in New Zealand, an Australian supermarket chain has bought out a troubled Marlborough winery.
Pinnacle Drinks, a subsidiary of the grocery giant Woolworths, has bought Isabel Estate Vineyard in Renwick.
The winery went into receivership in July after accumulating millions of dollars in debt.
Wine Marlborough general manager Marcus Pickens said it was a logical move for the buyer.
"These larger groups - and not just supermarkets but other companies - are wanting to secure supply. You know Marlborough's name and reputation is global and I think a lot of companies are looking at the future and want to get that supply guaranteed."
Mr Pickens said there had been overseas investment in the Marlborough wine industry from the earliest days and believed that interest would continue.
"I think there's going to be pressure on the land of Marlborough - there's only so much land. I think everyone is looking to the future, you know more than just a few vintages ahead, they're looking at 10 plus years ahead."
