A conditional sale agreement was signed this week by Indevin for the outright purchase of Villa Maria.
Indevin is a NZ owned wine company based in Marlborough and says adding Villa Maria to its portfolio “fits within our long-term growth strategy and will complement our existing business”. The company already has three flagship wineries in Marlborough, Hawke’s Bay and Gisborne and controls supply from more than 5,000 hectares of viticultural land throughout those same regions.
Assuming the sale is finalised, on 31 August Indevin will become the new owner of Villa Maria’s brands, assets, vineyards, wineries and supplier agreements, including the Hawke’s Bay operation. Word on the street is that the new owners will be visiting the Bay next week to inspect their new purchases and do a meet and greet. Whether staff will be retained or shed remains to be seen.
Chairman of the Villa Maria board, Malcolm McDougall, says of the conditional sale: “It’s reassuring that Villa’s new owner will be another Kiwi company and there is genuine compatibility between the businesses. Indevin is a successful operator, it brings a strong supply chain and has established key export markets with contracted long-term partnerships. Meanwhile, Villa Maria brings a legacy and strong brands that command a premium. Together that’s a powerful combination.”
Villa Maria says the intention is that the merged business will become the clear No.1 and leading NZ global wine business, spearheaded by the Villa Maria brand.
The NZ wine industry has been in flux for years now and this sale sees another NZ iconic wine company changing hands – at least it’s not going to the wall like others have done recently.
Let us hope the sale gets successfully completed, the best part being, to a New Zealand Company. Yeah!