{"id":4064,"date":"2021-08-03T12:28:40","date_gmt":"2021-08-03T00:28:40","guid":{"rendered":"https:\/\/winefolio.co.nz\/?p=4064"},"modified":"2021-08-03T12:30:01","modified_gmt":"2021-08-03T00:30:01","slug":"villa-maria-set-to-be-sold-to-indevin","status":"publish","type":"post","link":"https:\/\/winefolio.co.nz\/?p=4064","title":{"rendered":"Villa Maria set to be sold to Indevin"},"content":{"rendered":"

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\u2019s Bay.<\/p>\n

Indevin chairman Greg Tomlinson\u200b said Villa Maria would complement the Marlborough-based wine company\u2019s existing business.<\/p>\n

\u2018Our business model is all about producing quality wines, creating authentic brands while retaining and building value for New Zealand wine in international markets,\u2019 said Greg Tomlinson, chairman of Indevin. \u2018Adding Villa Maria to our portfolio fits within our long-term growth strategy and will complement our existing business.\u2019<\/p>\n

The sale of 100 per cent of shares in Villa Maria Estate, if finalised, will include wineries in Marlborough, Hawke\u2019s Bay and Auckland, vineyards, supplier agreements, and the brands Villa Maria, Esk Valley, Vidal and Leftfield.<\/p>\n

Receivers of FFWL, the parent company of Villa Maria<\/a>, hoped the sale would be settled by the end of the month.<\/p>\n

\u201dWe 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,\u201d receiver Brendon Gibson\u200b of Calibre Partners said in a statement on Monday. \u201cWe see this is a good outcome that provides certainty for the business, staff, customers, suppliers and the communities in which Villa Maria operates.\u201d<\/p>\n

Villa Maria board chairman Malcolm McDougall\u200b said it was \u201creassuring\u201d the new owner would be a New Zealand company, with a strong supply chain and established export markets.<\/p>\n

FFWL had also signed a conditional contract to sell 34 hectares of land surrounding Villa Maria\u2019s Auckland winery to Goodman Property Trust, in a deal expected to settle \u201clater in 2021\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"

After nine months, Villa Maria has been bought by New Zealand-owned wine company Indevin, which says it plans further investment in the brand. 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