Wine Spectator: New Zealand’s Yealands Wine Group Sells Majority Share for $60 MillionJuly 9, 2015
Marlborough Lines, a New Zealand electricity company, is investing $60 million in Yealands Wine Group, one of the country’s largest wine producers, purchasing an 80% stake. Founder Peter Yealands will retain 15% of ownership and continue his involvement in the company, with CEO Jason Judkins holding the remaining 5%.
The new cash puts Yealands in a position to grow quickly. “That is the objective of the sale,” Peter Yealands told Wine Spectator. “We plan to double production as soon as we can.”
Yealands Wine Group is already a big player in New Zealand’s wine industry, created in 2011 when Yealands Estate purchased two brands: Crossroads in Hawkes Bay and The Crossings in Marlborough. The combined entity is the country’s sixth-largest exporter, sending more than 1 million cases of wine annually to more than 80 countries, and it owns more than 2,700 acres of planted vineyards in Marlborough and Hawkes Bay, with wineries in both regions. Wine Spectator has the full story.
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