Consolidation in the wine-making industry is continuing with Delegat’s Group paying $8.5 million for the vineyard and winery assets of Matariki Wines and Stony Bay Wines, which are in receivership. The deal allows the listed owner of the Oyster Bay wine brand to increase its vineyard holdings in Hawke’s Bay by 61 hectares to 500 hectares. “The acquisition of this …

Vehicle inspectors Jevic New Zealand has upped its offer for all the shares of Vehicle Inspection New Zealand (VINZ) to a level that has won approval of directors who can’t see a competing offer eventuating. Jevic has increased its offer to $2.15 a share from the $1.65 a share, valuing VINZ at $5.4 million. The new offer is being unanimously …

While other countries like Japan manage their currencies lower, New Zealand Prime Minister John Key says there are benefits to a strong exchange rate, even as it creates headaches for exporters. In his state of the nation address in Auckland, Key said prices for primary exports are holding up and the country’s terms of trade remain high. That is helping …