Announced in a statement released today, Yealands Wine Group Founder, Peter Yealands, assured that Yealands Wine Group maintains a strong foothold in the market, with demand from both New Zealand and internationally, and that the sale will be reinvested to help the company in its next stage of growth. The investment will also ensure that Yealands Wine Group remains 100 per cent New Zealand owned.
“In looking for an investor we wanted someone who shared our beliefs and who would help us to continue to build the business, both in expanding our fruit supply and in developing our international marketing programme”, Mr. Yealands said.
Mr. Yealands will remain a shareholder as well as continue his involvement in the company’s operations.
Marlborough Lines Managing Director said commenting on the sale: “We have received independent advice and carried out a comprehensive review of Yealands’ business and have been impressed with their achievements, particularly in light of their relatively short existence, and with their ambitious plans for growth.
“We are satisfied that this will be a successful investment which will broaden our asset base for the benefit of the people of Marlborough. We are pleased to be able to demonstrate our confidence in the future of Marlborough’s most important industry.”
Settlement of the change of shareholding is imminent and will not affect day-to-day operations.
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