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Kono NZ LP buys Annie’s Marlborough

30 April 2014

Kono NZ LP buys Annie’s Marlborough

On 29th April, Annie’s Marlborough has been acquired by Wakatu Incorporation’s Kono NZ, after an agreement was made with Annie’s receiver PwC (formerly known as Price Waterhouse Coopers).

PwC Partner John Fisk, Receiver of Annie’s Marlborough Limited (In Receivership) says, "We are pleased to announce the sale of the Annie’s business to Kono NZ LP. This is a good result for the Annie’s Marlborough employees, Kono NZ and the wider Marlborough community. We were pleased to work with Kono NZ to finalise this sale, and are delighted that the Annie’s business will be able to continue following the receivership, albeit under new ownership."

The Chief Executive Officer of Kono NZ, Don Everitt says “We are excited about the future for Annie’s within the Kono basket. The range of natural fruit bars made by Annie’s Marlborough fits well in the range of food and beverage brands owned by Kono NZ. There are some great export opportunities for Annie’s in consumer markets around the world where natural and healthy products are highly valued. Kono is very pleased that ownership of Annie’s will remain in the Te Tau Ihu community.”

Kono NZ is the food and beverage operating business of Wakatu Inc. Wakatu Incorporation was formed in 1977 with an $11 million asset base of mainly land, and has grown into a $250m property, food and beverage business and export company. It has more than 3000 owners who descend from the original Maori land owners of the Nelson, Tasman, Golden Bay region.

Kono was formed in 2011 and employs more than 350 staff. It farms more than 500 hectares of land and sea and exports to more than 25 countries. Its focus is on high-quality wine, fruit and seafood products including local wine brands Tohu and Aronui wines.

ENDS

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