Villa Maria on conditional sale to New Zealand wine company Indevin
The sale of Villa Maria Estate is expected to be settled by the end of August.
After nine months, Villa Maria was acquired by New Zealand wine company Indevin, which announced plans to invest more in the brand.
The sale of 100% of the shares of Villa Maria Estate, if completed, will include wineries in Marlborough, Hawke’s Bay and Auckland, vineyards, supplier agreements and the Villa Maria, Esk Valley, Vidal and Leftfield brands.
The receivers of FFWL, the parent company of Villa Maria, hoped the sale would be settled by the end of the month.
âWe are working closely with Villa Maria management and the buyer to meet the conditions of sale, which are typical for a transaction of this nature, with a view to settlement on August 31, 2021,â said Receiver Brendon. Gibson of Caliber Partners in a statement. Monday.
* Sacred Hill wine group owes more than $ 98 million in unpaid debt, receivers say
* Villa Maria parent company FFWL in receivership, actions to be transferred
* The Villa Maria winery selling 31 ha of land near Auckland airport to finance its expansion
“We see that this is a good result that brings certainty to the company, staff, customers, suppliers and the communities in which Villa Maria operates.”
Villa Maria board chairman Malcolm McDougall said he was “reassured” that the new owner will be a New Zealand company, with a strong supply chain and established export markets.
Indevin chairman Greg Tomlinson said Villa Maria would complement the existing activities of the Marlborough-based wine company.
âOur entire business is built on conservation and creating value for New Zealand wineries and growers,â said Tomlinson.
âIf the conditions of the sale are met, we plan to focus our efforts and increase investments behind Villa Maria in order to further improve its reputation for quality and protect the value of its brand. “
FFWL had also signed a conditional contract to sell 34 hectares of land surrounding the Villa Maria wine estate in Auckland to Goodman Property Trust, in a deal expected to be settled “later in 2021”.
Indevin owns three flagship wineries and controls the supply of over 5,000 hectares of wine land across Marlborough, Gisborne and Hawke’s Bay. She creates wines for global wineries and retailers, with clients in the UK, US and Australia.