Marlborough-based wine company Indevin has announced that it has signed a conditional agreement to acquire Villa Maria.
The conditional sale follows an extensive nine month sale process after the parent company and sole shareholder of Villa Maria Estate Limited, FFWL was placed into receivership.
If the sale is finalised it will include Villa Maria’s Marlborough, Hawke’s Bay and Auckland wineries, vineyards, supplier agreements, the flagship brand Villa Maria as well as Esk Valley, Vidal and Leftfield.
Chairman of Indevin, Greg Tomlinson, says the company’s business model is about producing quality wines, creating authentic brands while retaining and building value for New Zealand wine in international markets.
“Adding Villa Maria to our portfolio fits within our long-term growth strategy and will complement our existing business,” he says.
“Our whole business is built around holding and building value for New Zealand vineyards and growers.
“If the conditions of the sale are satisfied, we plan to drive focus and increased investment behind Villa Maria to further enhance its reputation for quality and protect its brand value. This will be an important next step in the story of the brand.”
Chairman of the Villa Maria board, Malcolm McDougall, says it is reassuring that Villa Maria’s new owner will be another Kiwi company.
“There is genuine compatibility between the businesses,” he says.
“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.”
Receiver Brendon Gibson says they 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 August 31, 2021.
“We see this is a good outcome that provides certainty for the business, staff, customers, suppliers and the communities in which Villa Maria operates,” he says.
Calibre Partners has also announced that FFWL has entered into a conditional contract to sell 34 hectares of light industrial land surrounding Villa Maria’s Auckland winery to Goodman Property Trust. The land sale is expected to settle later in 2021.
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