Featured transaction

Sale of majority shareholding in Thornhill to Indevin

Murray & Co acted as financial advisor to Thornhill on the sale of a 75% shareholding to Indevin

Transaction value

Undisclosed

Completion date

Nov 2021

Murray & Co acted as financial advisor to Thornhill on the sale of a 75% shareholding to Indevin.

Thornhill is recognised as an industry leader in sustainable and ethical labour supply. The company supplies contract labour for the horticulture and vineyard sectors in Hawke’s Bay and Marlborough, deploying up to 800 seasonal workers.

Indevin is New Zealand’s leading producer of high quality wine. The purchase of Thornhill follows Indevin’s acquisition of Villa Maria in September 2021.

As part of the transaction, Richard Bibby, who has owned and managed the business since 2009, will move into a governance role, with day to day management of the business remaining in the hands of his sons Nick and Drew.