News

NEW ZEALAND: New Zealand Wine Company and Foley Family Wines NZ merger clears final hurdle

Most popular

Diageo/LVMH move for Pernod won't wash

just-drinks speaks to Pernod CEO Alex Ricard

How to win the marketing war in spirits

The just-drinks Analyst returns

Where will Pernod focus its attention in 2019-21?

MORE

The New Zealand Wine Company's (NZWC) merger with Foley Family Wines NZ will complete next month as regulatory approval for the deal has been received. 

//i2.aroq.com/1/_MG_8806.jpg

New Zealand's Overseas Investment Office has given the green light for Foley Family Wines NZ to take an 80% stake in the firm, NZWC said today (15 August). It comes afer NZWC shareholders also agreed to the merger at a special shareholders meeting in Blenheim yesterday

NZWC chairman Alton Jamieson said: "For some time now we have been working with Foley Family Wines on the merger of our wine interests and we will now focus on the remaining administrative conditions to enable the merger to be completed on 1 September 2012."

He added: "We are all looking forward to getting on with integrating the two companies and working to achieve our objectives for the enlarged NZWC wine business."

The deal, first announced in June, will see California-based Foley add the Grove Mill, Sanctuary and Frog Haven brands to its portfolio. It also gives the company access to about 200 more hectares of vineyards in Marlborough.

Financial details behind the transaction have not been released.


Related Content

New Zealand's Yealands Estate Wines charged over adding sugar to EU wines

New Zealand's Yealands Estate Wines charged over adding sugar to EU wines...

Should Pernod Ricard dump wine and bunk up with Brown-Forman? - Analysis

Should Pernod Ricard dump wine and bunk up with Brown-Forman? - Analysis ...

Why Marlborough is looking to up its New World wine game - Comment

Why Marlborough is looking to up its New World wine game - Comment...

Will Keurig Green Mountain, Dr Pepper Snapple Group merger spark M&A boom? - Analysis

Will Keurig Green Mountain, Dr Pepper Snapple Group merger spark M&A boom? - Analysis...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?