Giesen Wines to remain family owned

MARLBOROUGH – NEW ZEALAND

22nd November 2007

Giesen Wines to remain family owned

One of New Zealand’s leading wine companies Giesen Wines has announced that the founding family have decided to retain the business.

Family spokesman, Alex Giesen said: “Following a number of unsolicited approaches from parties interested in purchasing the business, my brothers and I opted in September to openly place the business on the market. While there was significant interest in the business from New Zealand, Australian and global players, their valuations were below ours. We have decided to continue with the business as we are confident that it has a strong independent future.”

Background

Giesen Wines is one of the largest wine companies in New Zealand and has substantial vineyard and winery holdings in Marlborough. It is one of the country’s leading producers of Marlborough Sauvignon Blanc wine, targeting sales of over 350,000 cases for the current financial year. Giesen Wines was founded 26 years ago and will continue to remain owned by the Giesen brothers, Theo, Alex and Marcel. The Giesen brothers were amongst the original pioneers of the New Zealand wine industry.

ENDS

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