After a year since it was put into voluntary administration Moana Park Winery has new owners and what also seems to be a new lease on life for the well-known winery.
Administrator Heath Gair of Palliser Insolvency sold the winery to Grant Humphrey and Ross Burney of Taiga Group Limited who took over ownership in August last year and said it's great to see the business back to its best.
"This has been a long process for creditors, but I am pleased we achieved this result," he said.
"I am extremely grateful for the support of the staff and suppliers throughout this process and wish the new owners all the best."
• 12 world-class wineries plus restaurants in Hawke's Bay
• Hawke's Bay wineries pick up spread of golds at New World awards
• Hawke's Bay's Craggy Range Winery voted one of world's best vineyards to visit
• Hawke's Bay's Villa Maria syrah claims NZ wine of the year
The sale by Gair enabled a distribution to all creditors of the winery to be made with secured and preferential creditors, including employees, receiving payment in full.
The purchaser, Taiga Group Limited, had no previous shareholder relationship with Moana Park, being a bona fide third party purchaser with distribution and export experience in the winery sector.
Taiga Group was unable to be reached for comment but Gair said that they have already been able to successfully transition the winery into an international success, albeit in a short space of time.
The staff roster has grown by four, as the new owners bring on new staff for growth in the winery and although the previous director has stayed on as an employee, big changes are already in the works.
Moana Park's wine was New Zealand's top selling wine by value and volume in South Korea in the third quarter of this financial year.
Three varieties sold through much faster than anticipated to the point that it sold out before replenishment stock arrived.
Costco Japan has also purchased wine for their network of stores, and have introduced the wine to other Costco markets around the world, namely in Asia and Europe.
Burney has also been able to confirm a supply agreement into the world's largest wine market, USA, and Moana Park wine will be sold in all 50 states within the next 12-18 months.
Moana Park is currently going through a rebrand, for delivery in July 2020, and is in conversation with New Zealand supermarkets for nationwide distribution.
From July, Moana Park will be known as Moana Park Estate.