Pioneering New Zealand Estate Changes Hands

One of New Zealand’s premier wine producers, the Martinborough-based Dry River, has been sold to fellow Martinborough producer, Luna Estate, for an undisclosed sum.

One of Martinborough’s first wineries (alongside Martinborough Vineyard, Ata Rangi and Chifney – now Margrain) Dry River was established by Dr Neil and Dawn McCallum in 1979. Selling its small production only to its mailing list, the winery soon established cult wine status in New Zealand and abroad.

It was bought in 2003 by US billionaire investment manager Julian Robertson (who acquired Hawke’s Bay’s Te Awa at the same time) and Reg Oliver, a Napa Valley vineyard owner.

The vineyard continued to produce highly sought-after and critically lauded wines from Martinborough’s flagship Pinot Noir variety as well as Chardonnay, Riesling, Gewürztraminer, Viognier and Syrah, among others. In more recent years, the estate had even experimented with Tempranillo.

An accomplished scientist, McCallum’s winemaking style was technologically demanding and, despite often being the focus of many insider debates, the wines continued to receive lavish praise. In more recent years, winemaking was overseen by Poppy Hammond and, later, Wilco Lam – both highly regarded in the region.

Lam has since moved to emergent Martinborough brand On Giants’ Shoulders.

Like many wineries in Martinborough, however, Dry River remained a boutique operation, much like the nearby Murdoch James and Alana Estate wineries. The latter two were snapped up by Wellington-based millionaire businessman and property developer, Chao (Charlie) Zheng via his Cornerstone Partners operation around 10 years ago and rebranded Luna Estate.

Wine-Searcher understands Dry River has been bought by Luna Estate although, to date, there has been no communication as to the future of the brand. Although industry insiders have confirmed the move, no official statement has been made from Luna or Zheng.

However, one source at Cornerstone Partners confirmed the proposed sale was in the process of going ahead several weeks ago. At time of publication, further requests for comment have gone unanswered.

The news comes in the same week as it was announced that the Bordeaux-based Edmond de Rothschild group was cleared to complete the purchase of Akarua Estate in Central Otago.