Pask Winery for sale in Hawkes Bay

9:04 AM Friday October 7, 2016 Pask Winery for sale in Hawkes Bay

The vineyards, winery and business assets of Pask Winery, in Hawkes Bay, are for sale either as a going concern or as individual assets.

Pask owns just over 58 hectares of vineyards in the sought-after Gimblett Gravels area and a winery on Omahu Rd, Hastings.

The company’s wines have consistently been award gold medal and trophy success in the UK, Australia, Asia, USA, Canada and New Zealand across a range of varietals and wine styles.

Mike Laven, rural and agribusiness broker at Colliers International, who is handling the sale with colleague Hadley Brown, says it presents “a rare opportunity to purchase very special vineyard holdings and a fully integrated winery business, with a strong reputation for quality.”

The sale includes part of the original 40ha block purchased and planted in grapes by Chris Pask in 1991. “This was the first vineyard to be planted in the 800ha Gimblett Gravels winegrowing district,” Brown says.

“When Pask bought the land 45 years ago, the area was regarded as the poorest, least productive land in Hawke’s Bay. It wasn’t much good for grazing sheep and little would grow on the gravelly soils. Chris was the first person to see the potential of the area for viticulture.”

Today, there is fierce competition to purchase vineyards in this very limited premium wine area. Based on this, the brokers expect strong local and international interest in the assets of this high-profile wine business.

“We will be talking to potential offshore buyers, who will be interested in buying Pask as a going concern due to strong growth in demand for red wines in their markets,” says Laven.

“For Hawke’s Bay wine companies, this is a rare expansion opportunity in the Gimblett Gravels’ winegrowing district and those companies can buy individual vineyards or all four.”

Pask’s four vineyards are planted mainly with red varietals. Merlot, cabernet sauvignon, malbec, syrah and cabernet franc make up about 75 per cent of the planted area, with the balance in white varieties. 

The 800 tonne capacity Omahu Rd Winery houses the cellar door tasting facility, offices, laboratory and full winemaking facility through to bottling and warehousing.