KiwiSaver firm Booster has made a direct investment of capital into a wine company.
The investment in Awatere River Wine Company is the first injection of KiwiSaver funds into the wine industry.
Awatere River Wine Company founder and winemaker Louis Vavasour said it was a vote of confidence in the buoyant New Zealand wine industry.
The Vavasour family retains principle ownership of Awatere River Wine Company with the Booster Tahi Limited Partnership (Booster’s investment vehicle for its KiwiSaver funds) taking a significant minority stake. The Booster Tahi Limited Partnership will own 100% of Waimea Estates with Vavasour the chief executive of the overarching venture.
The Booster Tahi Limited Partnership was established to help Kiwis grow their businesses and manage their wealth.
The Booster investment also includes the purchase of additional vineyards in Marlborough and Nelson which will contribute to future company growth and return for investors.