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Yealands announces expansion drive
New Zealand’s sixth largest exporter, Yealands Wine Group, has embarked on a strategic review with the aim of fast-tracking expansion plans.
Yealands Estate founder Peter Yealands
The company’s founder and executive director Peter Yealands pointed to “significant opportunities” for both New Zealand wine and his own business, whose brands include Yealands Estate, Peter Yealands, Crossroads and The Crossings.
“We want to take advantage of these growth options,” confirmed Yealands. “To do this we need to increase our vineyard holdings and grow our grape supply. That is going to require fresh capital.”
Outlining the aims of this strategic review, which is being carried out with the assistance of investment banking group UBS, Yealands explained that it “will help us identify the capital requirements and optimal expansion approach, which could take the form of an IPO or other growth options.”
This expansion drive from Yealands follows a record year for the country as a whole. Exports last year hit their highest ever level of NZ$1.33 billion (£672 million), with New Zealand Winegrowers predicting that this figure will rise to $2bn by the end of the decade.
Yealands chairman John Shewan echoed this bright forecast, commenting: “The strong global demand for our wines in conjunction with the recognition we have received through our international accolades, makes this an ideal time to consider growth options”.