New Zealand-based wine producer and distributor Delegat Group plans to invest $33 million in advancing its vineyards in the current financial year to support a forecasted 23 percent lift in sales by 2021.
The project will involve 136 hectares of new vineyard to be step up in 2019 with another 575 hectares of land set to be planted from the 2020 financial year onwards.
The company said that the available bank facilities and retained earnings are enough to finance the programme.
Delegat Group also said that the project coupled with developing in-market sales teams establishes its predictions to add another 640,000 case sales to 3.38 million cases in the 2021 financial year.