Booster has announced its purchase of the former Mahana Estates winery site and the formation of the Booster Wine Group. The Nelson-based site was secured by Booster’s specialist investment arm adding to their existing investments in the wine industry; Awatere River, Waimea Estates, Bannock Brae, and Sileni Estates.
For the last 18 months, Booster has been supplementing listed shares with direct investment in local companies, changing the landscape for Kiwi investors. This move marks another milestone in the KiwiSaver industry. The purchase of Mahana and the formation of the Booster Wine Group means that KiwiSaver members have another locally sourced investment opportunity. This goes against the norm of the KiwiSaver industry, who tend to invest in easily tradable listed shares and bonds.
The acquisition of Mahana Estates significantly enhances the premium wine production capability of the Booster Wine Group. It’s facilities significantly add to the ability to compete with overseas competition.
“Most New Zealand wineries, as small independent businesses, have always been challenged by our scale. The Booster Wine Group allows our wineries to focus on what they do best—produce world-class wine while remaining Kiwi owned and operated,” said 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.”
“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 winemaking facility back into Kiwi ownership. New Zealanders collectively had more than $50 billion in their KiwiSaver accounts last year—however, only a fraction of this was invested back into New Zealand business.
Booster has several other investments in its pipeline which are expected to be finalised and announced sometime this year.