Marlborough Lines buys 80% stake in Yealands Wine Group

Marlborough wine grower Peter Yealands has sold a majority share of his company – Yealands Wine Group – to local electricity supply company, Marlborough Lines. The lines company paid $89 million for an 80 per cent share of the total shareholding for one of the country’s biggest wine companies and exporters. Yealands said the sale was a “marriage made in heaven”. There were very few wholly locally owned wineries in Marlborough, he said.