Some of our most experienced wine entrepreneurs are among New Zealand's richest people.
With so many tales of wineries struggling to survive in a tumultuous sea of oversupply and plunging profits, one would be forgiven for thinking everyone in the wine industry is on the verge of insolvency.
Take a look at the country's rich list and the number of entries from wine entrepreneurs shows that though the category may have lost value, some individuals are still doing quite nicely.
Tallying the fortunes of the nine wine entries on NBR's last rich list, the joint wealth of wine folk adds up to $0.8 billion. That's more than the booty bagged by all the rich listers involved in tourism, real estate or construction, but still billions behind the likes of property and investment.
Valued at $1.5 billion, New Zealand's richest woman, Lynette Erceg, is the first person on the list with wine connections. The widow of Michael Erceg, she sold his alco-pop empire, Independent Liquor, after his death in 2005 and has since invested in the Mystery Creek wine label.
Another rich lister who made his $108 million outside of wine, but has recently set up his own label is business academic, David Teece. He established the Mt Beautiful estate in the new wine region of Cheviot in North Canterbury.
Of those who've made their wealth from wine, the Giesen family with $130 million is ranked one of the highest at 35. This band of German brothers set up a modest vineyard on the Canterbury Plains at Burnham in 1981 and, now focused on Marlborough, have become one of the country's largest wine producers.
A couple of places behind them with $115 million there's a tie between Villa Maria owner George Fistonich and Delegat's Jim and Rosemari Delegat. Fistonich founded Villa Maria in 1961, which is the largest New Zealand family owned company, kept buoyant in these choppy times by its well established reputation and strong distribution.
Brother and sister team Jim and Rosemari Delegat own two thirds of Delegat's, the company behind the successful Oyster Bay brand, whose sauvignon blanc became Australia's top-selling white wine.
There's another draw at No. 45 with $75 million, between Brent Marris and Peter Yealands. Marris helped build and head his family business, Wither Hills, which he and his father sold for a lucrative $52 million to Lion Nathan in 2002, during the heady days of the sauvignon boom. After the sale, Marris has remained in wine, with his new Marisco Vineyards venture and The Ned label.
Yealands made his first fortune through mussels and deer farming before moving into grape growing in the late 90s. Most recently he established the country's largest privately owned vineyard, the 1000ha Yealands Estate in the Awatere Valley. Though wine from that venture came on stream just as the grape glut took hold, the estate has managed to make its mark through numerous innovative green initiatives.
At No. 48 with $65 million is the Babich family.
It's a name many local wine lovers will know well, being one of our longest established wineries with more than 90 years of winegrowing in New Zealand.
Looking at this list, what's obvious is that all those who've made their money from wine are serious players; many of them have been involved in the industry for decades. There may still be wealth to be had from wine, but if you want to make a quick buck and get on the next rich list, it may be best to pick another product.
STANDALONE GRIS
Bellbird Spring Home Block Waipara Pinot Gris 2010 $30/$31
Bellbird Spring's impressive Home Block pinot gris is richly textured with honeyed notes, hints of spice and fresh minerally undercurrent. (From Bacchus Cellars, Blend Winestore, La Barrique, La Vino, Point Wines, Wine Vault, Wine and more.)
PINOT WITH SENSE OF PLACE
Wither Hills Benmorven Marlborough Pinot Noir 2007 $80
From Brent Marris's old label, comes this great new limited release that's half of a new duo of pinots highlighting the different characters of the vineyards that go into the estate's main pinot blend. This vineyard usually makes up 40 per cent of the main pinot, but on its own, the pick of the site's crop has produced a supple and fragrant wine with rich black cherry and plum fruit and a wonderfully fresh lift.
(On premises only.)
AUSSIE ALTERNATIVE
D'Arenberg The Money Spider McLaren Vale Rousanne, Australia 2009 $33.95
Rousanne is a white Rhone variety which, in the hands of Aussie alternative variety pioneers D'Arenberg, has expressed itself as this silky specimen with layers of succulent stonefruit, greengage and citrus, overlaid with attractive notes of musky spice. (Available to order from wine stores.)
