In an announcement to the Australian Stock Exchange, the beverage company said the purchase represented the remaining 50 per cent of Rapaura held by Babich.
The deal will give TWE full control over Rapaura's production facility, with the Australian company looking to expand its production.
TWE is looking to increase crush capacity from the facility's current 15,000 tonnes to 25,000 tonnes in the fiscal year 2013.
Chief supply officer of TWE, Stuart McNab, said the company was pleased to have secured the investment.
“This is a first class facility with a team of experienced staff and a proven track record for producing high quality wines," he said.
"We are delighted to now have full ownership of the site which we’ll be renaming, Matua Marlborough to build on the profile and history of the Matua brand in New Zealand and around the world”.
Treasury Wine owns wine labels Penfolds, Lindeman's and Wolf Blass.
source : businessspectator.com
