Yealands Wine Group, one of New Zealand’s largest wine producers, has secured a $60 million investment from electricity distribution company, Marlborough Lines in exchange for an 80% stake in the company.
Peter Yealands, founder of the group will retain a 15% stake, and chief executive, Jason Judkins will hold the remaining 5%.
Founded in 2011 when Yealands Estate purchased the Crossroads and The Crossings brands, the combined entity became New Zealand’s sixth largest exporter, shipping more than 1 million cases of wine to 80 countries per year. The group controls a total acreage of 2,700 acres of planted vineyards with wineries in both Hawkes Bay and Marlborough.
Yealands is one of New Zealand’s pioneering wine companies in the use of environmentally sustainable production practices. The group uses hydrogen generator tractors, plastic eco-friendly wine bottles, and even began using ‘baby doll’ sheep to keep the grass down between vines. Yealands is also the world’s first vineyard to gain certification from CargoNZero – an internationally accredited greenhouse gas certification program.
Contrary to rumors that Yealands was seeking investors to pay down its increasing debt, Yealands’ goal is one of growth, and is planning to use the new capital to fund a rapid doubling of production. Being debt-free and having $100 million of profits on hand from other investments, Marlborough Lines made the decision to reinvest in a local business.
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