After nine months, Villa Maria has been bought by New Zealand-owned wine company Indevin, which says it plans further investment in the brand. Privately owned Indevin makes wines for wineries and retailers all over the world, has three wineries and controls supply from more than 3,000 hectares of vineyards in Marlborough, Gisborne and Hawke’s Bay.
Indevin chairman Greg Tomlinson said Villa Maria would complement the Marlborough-based wine company’s existing business.
‘Our business model is all about producing quality wines, creating authentic brands while retaining and building value for New Zealand wine in international markets,’ said Greg Tomlinson, chairman of Indevin. ‘Adding Villa Maria to our portfolio fits within our long-term growth strategy and will complement our existing business.’
The sale of 100 per cent of shares in Villa Maria Estate, if finalised, will include wineries in Marlborough, Hawke’s Bay and Auckland, vineyards, supplier agreements, and the brands Villa Maria, Esk Valley, Vidal and Leftfield.
Receivers of FFWL, the parent company of Villa Maria, hoped the sale would be settled by the end of the month.
”We are working closely with Villa Maria management and the purchaser to satisfy the sale conditions, which are typical for a transaction of this nature, with a view to settlement on 31 August 2021,” receiver Brendon Gibson of Calibre Partners said in a statement on Monday. “We see this is a good outcome that provides certainty for the business, staff, customers, suppliers and the communities in which Villa Maria operates.”
Villa Maria board chairman Malcolm McDougall said it was “reassuring” the new owner would be a New Zealand company, with a strong supply chain and established export markets.
FFWL had also signed a conditional contract to sell 34 hectares of land surrounding Villa Maria’s Auckland winery to Goodman Property Trust, in a deal expected to settle “later in 2021”.
