Wine group Indevin New Zealand has completed the purchase of 100% of the shares in Villa Maria Estate Ltd, ensuring the business remains under local ownership.
The sale was completed last week, following a nine month process that was concluded by receivers Calibre Partners and investment bank UBS, after the owner of Villa Maria, FFWL Ltd was placed into receivership.
In a statement, Indevin, which is one of New Zealand's largest exporters of wine, said that the addition of Villa Maria to its portfolio was the 'next logical step' for the business.
Established Brands Join Forces
“The coming together of two successful New Zealand wine export businesses supports our vision to become the leading New Zealand global wine business, spearheaded by the Villa Maria brand," commented Greg Tomlinson, chairman of Indevin.
"This collaboration will be significant for the New Zealand wine industry, and we are delighted Villa Maria will remain in New Zealand ownership.”
The transaction includes Villa Maria's Marlborough, Hawkes Bay and Auckland wineries, vineyards, supplier agreements, the flagship brand Villa Maria as well as Esk Valley, Vidal, Leftfield and Thornbury.
Malcom McDougall, chairman of Villa Maria Estate Ltd, noted that the acquisition is "exciting for the future" of one of New Zealand's oldest and most-established wine brands.
Strategic Fit Of Villa Maria
“We had looked at a number of wine businesses with brands over the last few years, but none provided the strategic fit of Villa Maria. We are excited by the opportunities this collaboration offers," Tomlinson added.
“Indevin’s business is built around holding and building value for New Zealand vineyards and growers. Our strong supply chain coupled with the strength and heritage of the Villa Maria brand will create a sustainable business for the future and grow value for the New Zealand wine industry."