The deal brings producers including Waiheke Island producer Man O’War Vineyards, Marlborough’s Auntsfield Estate, Churchill’s port and Douro wines and Margaret River winery Umamu Estate into New Generation’s portfolio.
Stokes Fine Wines will continue trading but will focus on developing its international business, under the leadership of managing director Tim Parkins.
It will also take a shareholding in New Generation Wines to make sure the two businesses continue working closely together. Stokes director Justin Liddle will join New Generation’s board and divide his time between the two companies.
Liddle said: “This is a hugely exciting move which will create an enviable portfolio of high-quality producers, offering our customers improved service and support while at the same time allowing Stokes Fine Wines to concentrate on its rapidly growing international trade.”?New Generation managing director James Booth said the transaction was an “important strategic step in the development of New Generation Wines”.