New Zealand spirits industry poised for major growth
The New Zealand Herald has an article about the growth of the spirits industry in the country.
“New Zealand’s alcoholic spirits industry is at a similar stage of its evolution to the wine sector in the 1970s and may be on the cusp of a major growth phase, a report says… In the past few years – possibly spurred by the phenomenal success of 42 Below vodka, which was sold to liquor giant Bacardi for $138 million in 2006 – numerous small-scale firms have entered the market. The report, conducted by research firm Coriolis as part of a wider project for the Ministry of Business, Innovation and Employment, says the local spirits sector is now a US$47 million ($58.9 million) export industry. Exports had grown at a compound rate of 10 per cent a year over the past decade, the report said.”