New Zealand’s largest contract winemaker the Indevin Group – which acquired Villa Maria in September this year – has taken a majority shareholding in a leading labour supplier.
Announced last week by Indevin, the move sees the group sign an unconditional agreement to purchase a 75% shareholding in Thornhill Horticultural Contracting Limited, which is described as “an industry leader in ethical labour supply for the horticulture and viticulture industry”.
The transaction is due to settle today for Indevin, which accounts for 22% of all New Zealand’s wine exports and manages a large proportion of the nation’s seasonal workforce.
According to Indevin, the completion of this purchase “forms a significant part of the company’s strategic road map and long-term growth strategy”.
Commenting on the purchase, Duncan McFarlane the CEO of Indevin/Villa Maria, said, “Having highly skilled staff in specific areas that are important to our business is crucial in building ongoing growth opportunities and value for New Zealand wine.”
Richard Bibby, who purchased the business in 2009, will move into a board role with Thornhill, with day-to-day operations remaining in the hands of Nick Bibby, and Drew Bibby continuing to lead the New Zealand programmes with the Ministry of Social Development and Department of Corrections.
Commenting on the acquisition, Richard Bibby said, “Indevin Group and Thornhill are a great fit. With Indevin and Villa Maria’s scale, our people will have exposure to more opportunities to move from seasonal roles to permanent positions within the business. This collaboration is a really good thing for the New Zealand wine industry as a whole.”
Murray & Co acted as financial advisor to Thornhill with Wynn Williams providing legal advice to the vendor and Webb Henderson for the purchaser.
