Invivo winery shares positive annual results at lively AGM
25 August 2016
A YEAR ON: INVIVO HOSTS
FOR STAKEHOLDERS TO TOAST A GOOD YEAR
It’s probably one of the most lively investor ‘meetings’ you’re likely to attend.
Forget stuffy AGMs, the shareholders who joined the Invivo directors at the winemaker’s 2016 AGM in Te Kauwhata yesterday (24 Aug.) were treated to live music, canapés, dinner and a winery tour. That’s the Invivo way.
Having been New Zealand’s first company to equity crowdfund the maximum $2 million in 2015, Invivo hosted the bash with its shareholders to celebrate its first year. The company’s innovative approach to its AGM proved a hit as more than 120 shareholders joined the event which was also live streamed across the world.
Co-founder Tim Lightbourne wanted to create a unique experience for the company’s valued shareholders a year on, after taking inspiration from the world’s most successful equity crowdfunded company Brewdog in the UK and hearing about how it hosted its AGM.
Lightbourne comments, “Attendance at our AGM was more than some listed companies. We wanted to make the experience as fun as possible for our investors and we were blown away by their positive reaction.”
Josh Daniell of Snowball Effect who saw Invivo through its epic crowdfunding journey comments, “People invest in private companies for the potential to make good returns. But there are other motivations, such as wanting to put capital to work in productive assets that employ people and sell Kiwi products to the world.”
Shareholder John Moore of Miro Capital commented, “It was great to attend an AGM where everyone was so supportive of what the company has achieved and excited to see where the company is heading. There is no doubt that there will be significant shareholder support for proposed developments, including capital raising if that is required.”
The good times didn’t stop there.
Shareholders heard some news about the company’s growth strategy with sales revenue predicted to grow by 65 per cent and expansion in to new markets featuring in this year’s predictions. The company is focused on profitable growth and on track to turn over $9.2 million this year with net profit before tax of $1 million and production of 1.3 million bottles.
Invivo co-founders Rob Cameron and Tim Lightbourne presented plans for the future including expanding winery capacity, hiring more staff, particularly from the local community, launching into new markets and new products and continued profitable growth.
At the meeting, Tim Lightbourne told enthusiastic shareholders Invivo hopes to launch in the US and secure additional distribution of the Graham Norton wine in New Zealand, Australia, UK and Ireland.
“We’ve experienced incredible growth in the past 12 months selling around half a million bottles of Graham Norton’s Own Sauvignon Blanc,” Lightbourne says. “We’re now adding a red to the mix which we believe will only encourage further growth. We will also be increasing the capacity at our historic Te Kauwhata winery adding a new tank farm.”
Lightbourne said the long term partnership has “huge potential for further growth”. “It’s a quality product, is winning accolades and has been recently chosen by QANTAS for its business class and lounges.” A Graham Norton Shiraz and a Rose are also in the pipeline.
But it’s not all about Graham Norton. On the new product front, an Invivo Gisborne Chardonnay is being release in September and the company is developing a range of spritzers under the Scarlett brand name.
Recent news from Invivo
Invivo has recently signed a nationwide distribution agreement with Lion designed to secure new hospitality outlets and retailers through Lion’s strong distribution channels.
Invivo has received some really positive feedback on the quality of its wines, Lightbourne says, winning more than 150 medals since 2008. They include the 2011 International Sauvignon Blanc Trophy at IWSC Asia, Gold at both the 2015 IWSC London and the 2016 Sommelier Wine Awards for our Pinot Noir along with Gold at the 2015 Air New Zealand Wine Awards for the Chardonnay.
About Invivo Wines
At Invivo, we aim to create approachable wines that appeal both to those new to wine and to the connoisseurs, all without the unnecessary complexity often associated with wine. We also enjoy having a bit of fun doing it. We chose a difficult time to launch in 2008, the start of the GFC and a record harvest of Sauvignon Blanc leading to pricing pressure.
Our first wine (Marlborough Sauvignon Blanc) was released that year, we have since expanded the range to include Pinot Noir, Pinot Gris, Rosé, Sparkling, Riesling, Shiraz and Chardonnay. In 2012, Invivo Wines was named a Deloitte’s Fast 50 Company.
In 2015, we were the first New Zealand winery to equity crowdfund offering the NZ public shares in our company. We set a southern hemisphere equity crowdfunding record raising $2 million in eight days, the maximum allowed to raise under NZ legislation.
After supplying the Graham Norton Show with our Sauvignon Blanc since 2011, our first vintage of Graham Norton’s Own Sauvignon Blanc was produced in 2014 in collaboration with Graham. In February 2016, Invivo took over the historic Te Kauwhata winery, one of New Zealand’s oldest wineries established in 1902 by the NZ government. Invivo has won more than 150 medals and 5 trophies since its first wine in 2008.