OMEN
01-22-2008, 10:29 AM
One of the mega-rich co-founders of Internet search engine Google plans to buy into a boutique Wairarapa vineyard.
Mebus Estate owner Michael Mebus was tight-lipped yesterday but confirmed one of the two Google creators, Larry Page and Sergey Brin, planned to invest in the winery.
"I'm not going to tell you who. There are still regulations to work through but they should be finalised in a few months," he said.
The deal would have to be scrutinised by the Overseas Investment Office before it could go ahead.
The pair, both aged in their 30s, have an estimated net worth of US$18.5 billion (NZ$24.3 billion) each.
New Zealand Winegrowers chief executive Philip Gregan said involvement by rich businessmen such as the Google inventors spoke great things about our wine industry.
"It's an indication of the market success of New Zealand wines internationally. We've had a lot of foreign investment in the industry over the last six years, over a billion dollars.
"People want to go into partnership in a successful industry," he said.
More than 60 per cent of New Zealand wine is aimed at foreign markets.
Moving away from Wairarapa's main wine area around Martinborough, Mr Mebus was one of the first to plant the terraces above the Ruamahunga River southwest of Masterton in 1995.
The 42-hectare Mebus Estate Vineyard and Winery is in Dakins Rd in the east Taratahi area. The Mebus family pioneered grape-growing in the area, which is now home to 10 vineyards.
The property comprises 25ha of planted vines, two homesteads and a modern winery, which produces chardonnay, pinot gris and noir, sauvignon blanc and merlot varieties.
Reuters
Mebus Estate owner Michael Mebus was tight-lipped yesterday but confirmed one of the two Google creators, Larry Page and Sergey Brin, planned to invest in the winery.
"I'm not going to tell you who. There are still regulations to work through but they should be finalised in a few months," he said.
The deal would have to be scrutinised by the Overseas Investment Office before it could go ahead.
The pair, both aged in their 30s, have an estimated net worth of US$18.5 billion (NZ$24.3 billion) each.
New Zealand Winegrowers chief executive Philip Gregan said involvement by rich businessmen such as the Google inventors spoke great things about our wine industry.
"It's an indication of the market success of New Zealand wines internationally. We've had a lot of foreign investment in the industry over the last six years, over a billion dollars.
"People want to go into partnership in a successful industry," he said.
More than 60 per cent of New Zealand wine is aimed at foreign markets.
Moving away from Wairarapa's main wine area around Martinborough, Mr Mebus was one of the first to plant the terraces above the Ruamahunga River southwest of Masterton in 1995.
The 42-hectare Mebus Estate Vineyard and Winery is in Dakins Rd in the east Taratahi area. The Mebus family pioneered grape-growing in the area, which is now home to 10 vineyards.
The property comprises 25ha of planted vines, two homesteads and a modern winery, which produces chardonnay, pinot gris and noir, sauvignon blanc and merlot varieties.
Reuters