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Yealands Wine hires UBS for capital raising advice
Yealands Wine hires UBS for capital raising advice
Dec. 8 (BusinessDesk) - Yealands Wine Group, New Zealand's sixth-largest wine exporter, has hired investment bank UBS to advise on capital-raising options, including an initial public offering to expand its vineyard assets and grape supply.
The company, which is majority owned by founder Peter Yealands, didn't give a capital raising target. Yealands Wine was created in 2011 through the merger of Yealands Estate Wines and Ager Sectus Wine Estates.
"We see significant opportunities for New Zealand wine internationally and for YWG and we want to take advantage of these growth options," Yealands said in a statement. "To do this we need to increase our vineyard holdings and grow our grape supply. That is going to require fresh capital. The strategic review will help us identify the capital requirements and optimal expansion approach, which could take the form of an IPO or other growth options."
Yealands' NZ Wine Investments owns about 75 percent of Yealands Wine.
(BusinessDesk)
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