New Zealand-based wine company Invivo, which has partnered with Graham Norton and Sarah Jessica Parker, is preparing to raise another $2 million to fund its expansion plans.
The company, which runs two wineries in Te Kauwhatu, undertook its first raise in 2015. Since then, gross revenue has increased from $3m to $20.5m in the full 2023 financial year.
According to the raise preview on the equity crowdfunding platform Snowball Effect, Invivo was forecasting further strong projected revenue growth, from $24.2m in the 2024 financial year and $1.7m in earnings before interest, tax, depreciation and amortisation (Ebitda) to $35.4m and $4.2m in Ebitda in the 2026 full financial year.
'Power brands'
In the past decade, Invivo partnered with both Norton and Parker to produce successful branded wines.
In an interview with Mike Hosking last month, co-founder Tim Lightbourne said interest in NZ sauvignon blanc was continuing to grow in the United States.
The collaboration between Invivo and the Sex and the City actress, who fronted an influential wine show alongside Lightbourne in New York last month, was the fastest-growing premium sauvignon blanc brand in the US market.
According to the Snowball Effect website, Invivo intended to use the $2m capital raise to fund its growth strategy, including the expansion of its NZ vineyards.
The company currently has 180 hectares leased or under grower management in Marlborough and Hawke’s Bay but wanted to grow this to more than 500ha.
The US market would be the major focus, Invivo said, and the company would continue to focus on developing its "power brands", including Invivo X, SJP and Graham Norton's range.
This story has been updated to correct the spelling of Invivo.
