Jim Delegat and sister Rosemari, who jointly own 66% of listed Delegat Group, have seen the company’s value rocket to $900 million in the past year.
They have also handed over the running of the company to a new managing director, Canadian-born Jim Freeman.
He replaces Graeme Lord, who has just stepped down after four years in the top job and 19 years with the company.
Freeman is also a company veteran, having worked there from 2005-15 before returning late last year as managing director-designate.
As executive chairman, Delegat says the NZX listing has enabled it to expand much more rapidly overseas, including the acquisition of Barossa Valley Estate in South Australia, and capture what he calls the “enthusiasm for New Zealand wine in the global market.”
Delegat’s Oyster Bay brand sells more than a million cases in the North American market alone, making up more than 40% of all global sales. Oyster Bay’s Marlborough Pinot Noir and Marlborough Chardonnay both won gold medals at last year’s San Francisco International Competition.
The company dates back to 1947, when Croatian couple Nikola and Vidosava Delegat established a vineyard at Henderson, west Auckland.
Asked for his highlight of the past year, Jim Delegat didn’t hesitate before pulling out a copy of Offshore Yachting, the official magazine of the Cruising Yacht Club of Australia. On the cover was the Delegat-owned Giacomo, named after his Croatian grandfather and overall winner of the 628-nautical mile Rolex Sydney-Hobart 2016 race. It was the fastest on record and the Kiwi Volvo 70 was the first overseas yacht to win the Tattersalls Trophy in almost a decade. It did so well within the record time and took second line honours just two minutes ahead of another V70. “We shut the gate on them,” skipper Mr Delegat said afterward. Giacomo is only the fourth New Zealand yacht to win the top race in this part of the world. Sons Nikolas, 20, and James, 18, were also in the crew. It was a dramatic change in fortune from 2014 when the yacht was dismasted on the Tasmanian coast not far from the finish line. The team spent 2015 rebuilding Giacomo and another year in preparation. “Winning the race is reward for a long learning experience,” Mr Delegat says.