Booster hops on the craft beer bus
Booster has added Nelson-based Waimea West Hops farm to its private land and property portfolio with an investment of $7 million for a 50% shareholding.
Wednesday, April 14th 2021, 9:57AM
Usually very closely guarded, New Zealand hops are a global growth product sought after by craft beer brewers around the world with brewers using up to 10 times more hops than standard commercial varieties and its rise in popularity is forecast to grow in coming years.
The Waimea West Hops farm in Brightwater, Nelson gives Booster's portfolio exposure to this exciting product while adding further diversity.
The investment will enable the farm to expand to almost triple its current size of 28.5ha with new hop plantings reaching full maturity within three years.
Booster's private land and property portfolio is invested in productive agricultural and horticultural assets including Kiwifruit and vineyards across New Zealand and this investment brings its total assets to over $80 million.
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