A group of New Zealand investors having viticulture interests in the Central Otago region have purchased Prophet’s Rock, a Central Otago-based boutique winery, for an undisclosed amount.
With the acquisition, the winery is set for expansion into the offshore markets.
Founded in 1999 by Mike and Angela Mulvey, Prophet's Rock produced its first wine in 2005. The winery is mainly known for its Pinot Noir, Dry Riesling and Pinot Gris wines, which are produced by Prophet's Rock winemaker Paul Pujol from an estate vineyard located in the Pisa sub-region of Central Otago.
Under the acquisition deal, Pujol will become the general manager of the winery, besides handling wine making duties.
Pujol said the acquisition creates new opportunities for the winery, as they can now source grapes from an additional Bendigo vineyard in Central Otago.
"The investment stemming from the purchase means the winery can fully realize its potential," Pujol added.
"It enables us to bring this second vineyard fully on-stream and gives us the critical mass to expand distribution further into offshore markets."
