Indevin signs conditional agreement to buy Villa Maria
Wine company Indevin has signed a conditional agreement to buy Villa Maria.
The Receivers of FFWL, the parent company of Villa Maria Estate – Brendon Gibson and Neale Jackson of Calibre Partners – announced on August 2 that they had signed a conditional agreement for the sale of 100% of the shares in Villa Maria Estates Limited.
The conditional sale follows an extensive nine month sale process that was concluded by Calibre Partners and UBS 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 Marlborough, Hawke’s Bay and Auckland wineries, vineyards, supplier agreements, the flagship brand Villa Maria as well as Esk Valley, Vidal and Leftfield.
Indevin, a New Zealand-owned wine company based in Marlborough, says it is excited at the prospect of adding a set of such iconic Kiwi brands to its stable.
Commenting on the conditional sale, Chairman of Indevin Greg Tomlinson said: “Our business model is all 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.
“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,” said Tomlinson.
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. 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, with a view to settlement on 31 August 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,” says Gibson.
Calibre Partners 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.
