Media Release 31 January 2018
Booster steers a new course for KiwiSaver investors with the purchase of Mahana Estates.
Wellington, 31 January 2019 – Today Booster announced its purchase of the former Mahana Estates winery site and formation of the Booster Wine Group.
Booster’s specialist investment arm secured the Nelson-based site, adding to their other investments in the wine
industry; Awatere River, Waimea Estates, Bannock Brae and Sileni Estates.
Over the last 18 months Booster’s strategy of supplementing listed shares with direct investment in local companies has
changed the landscape for Kiwi investors. Booster’s move now marks another milestone in the KiwiSaver industry.
Through the purchase of the Mahana site and the formation of the Booster Wine Group, the KiwiSaver provider has created
a new investment opportunity for the benefit of its KiwiSaver members. The norm in the KiwiSaver industry is to invest
in easily tradable listed shares and bonds.
The acquisition significantly enhances the premium wine production capability of the Booster Wine Group. It adds one of
the best premium wine making facilities in New Zealand to the group and creates significant scale and synergies that
strengthens the group’s ability to be internationally competitive.
“Most New Zealand wineries, as small independent businesses, have always been challenged by scale. The Booster Wine
Group allows our wineries to focus on what they do best – produce world-class wine, while still remaining Kiwi owned and
operated,” says Allan Yeo, Managing Director of Booster.
“The wine industry is one of New Zealand’s most successful exports. We’re pleased to be keeping a piece of it in local
ownership and giving everyday Kiwi investors the chance to share in its success.”
The latest purchase brings the total production of the Booster Wine Group to the equivalent of 1 million cases per year
for this coming vintage. The site features a unique gravity-fed facility that will produce high-quality wine, while
providing the opportunity to streamline the production of all the premium and super premium wineries in the group.
“In addition to the synergies we can achieve with our other wine investments, we are pleased to have brought a beautiful
piece of land and a state-of-the-art wine making facility back into Kiwi ownership. New Zealanders collectively had more
than $50b in their KiwiSaver accounts last year – however, only a fraction of this is being invested back into New
Zealand businesses,” adds Yeo.
Booster has several other investments in its pipeline which are expected to be finalised and announced this year.
“Booster Tahi helps invest Kiwi savings back into successful New Zealand businesses to help fulfil their growth
potential and to keep them Kiwi owned. While our initial focus has been on horticulture investments in wine, kiwifruit
and avocados, we see exciting opportunities in other areas as Tahi grows,” says Yeo.
ENDS