Indevin Group (including Villa Maria) is pleased to announce that it has signed an unconditional agreement to purchase a 75% shareholding in Thornhill Horticultural Contracting Limited, an industry leader in sustainable and ethical labour supply for the horticulture and viticulture industry. The transaction will settle on 1 November 2021.
The completion of this purchase follows Indevin’s acquisition of Villa Maria Estate Limited in September and 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, “Thornhill is recognised as an industry leader in labour supply with a focus on the development and training of people in our industry. We know those that have worked with them have always been impressed by the quality of service, commitment and investment they make in their people.”
“We’ve also admired their back to work programmes through partnerships with the Ministry of Social Development and Department of Corrections. 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. It made sense, as one of New Zealand’s largest wine businesses, to invest in a business that is focussed on empowering people for the overall benefit of our industry.”
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.”
“We’re fortunate that we will have the Bibby family still leading this successful family business, importantly sharing similar values to us and now with the increased support and investment from Indevin,” continued McFarlane.
Following the confirmation of the investment, the Indevin/Villa Maria and Thornhill teams are now working together on plans for this new phase of the business, plus getting to meet the wider business teams.
Murray & Co acted as financial advisor to Thornhill with Wynn Williams providing legal advice to the vendor and Webb Henderson for the purchaser.
