Foley Family Wines pays growers early for record 2016 vintage

Foley Family Wines, the NZAX-listed company majority owned by US businessman Bill Foley, will bring forward the final payment to its grape growers for its 2016 vintage, reflecting the strength of its balance sheet. The winemaker will pay growers the final instalment in May instead of July as it benefits from a 31% increase in the 2016 grape harvest to a record 6954 tonnes, it said in a statement.