Villa Maria sold to NZ wine company

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

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 August 31, 2021,’’ receiver Brendon Gibson of Calibre Partners said yesterday.

‘‘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.

Indevin chairman Greg Tomlinson said Villa Maria would complement the Marlboroughbased wine company’s existing business.

‘‘Our whole business is built around holding and building value for New Zealand vineyards and growers,’’ Tomlinson said. ‘‘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.’’

FFWL had also signed a conditional contract to sell 34 hectares of land surrounding Villa Maria’s Auckland winery to Goodman Property Trust.

Indevin has three flagship wineries and controls supply from more than 5000 hectares of viticultural land throughout Marlborough, Gisborne and Hawke’s Bay.