Villa Maria

PHOTO: File photo. Photo: (Photo by Kym Ellis on Unsplash)

The company that owns the wine giant Villa Maria owes its bankers $212 million, a first receivers report says.

Rabobank and ANZ appointed Calibre Partners as receivers of the holding company, FFWL, in May.

At the time, one of the receivers, Brendon Gibson stressed that Villa Maria’s domestic and international business, which had been operating for 60 years, remained in good health.

The wine company had been going through a well-publicised process to find a new investor and placing the FFWL into receivership was a necessary step to speed up that process, Gibson told RNZ in May.

The first receivers report, released earlier today, said the company owed its bankers $211.9m.

A valuation of about $200m had been placed on the company, which is controlled by industry veterans, the Fistonich family.