Yealands Estates to merge with neighbour
NBR Rich Lister Peter Yealands' wine company merges with Ager Sectus, which is run by his neighbour Peter Cutfield.
Winemakers Yealands Estate and Ager Sectus will merge, forming one of New Zealand’s largest privately owned wine companies.
Peter Yealands, owner and chairman of Yealands Estate, says the merged company, which owns in excess of 1,500ha of vineyards, will produce high-quality wine from across New Zealand’s major wine regions, providing a more diverse and compelling offering.
“We believe that consolidation is the way of the future. To succeed in current market conditions you need a quality-focused, efficient production model and strong distribution networks.”
“The merger will put us in a stronger position to take advantage of global distribution opportunities.
“The scope and scale of the new entity will allow us to invest in additional in-market staff who will work alongside our existing distribution networks.”
Peter Cutfield, founder of Ager Sectus, says the two companies have natural synergies.
“Peter Yealands and I have been neighbours for years. The guy is a legend in the industry and we’ve often had chats over the fence. Over time we found we had more in common than we thought.”
“In an increasingly challenging marketplace it makes sense to combine our resources to invest in the development of strong brands.
“We both have expertise and market experience in complementary areas, which will enable the new entity to start from a position of strength.”
The global brands of the combined portfolio will include:
· Yealands Estate, Peter Yealands, Yealands Way, Full Circle, Pete’s Shed, Flaxbourne, Violet
· The Crossings, Crossroads Winery, 3 Stones, Braided River and Southbank Estate.
Niko Kloeten
Mon, 29 Aug 2011
Mon, 29 Aug 2011
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Yealands Estates to merge with neighbour
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