Invivo launches IPO to expand Graham Norton wine brand
New Zealand wine producer Invivo aims to raise $6.5 million through an initial public offer in its home country, with plans to expand its Graham Norton wine brand and launch a “new celebrity collaboration” in the US.
The producer will open investment opportunities to the NZ public on Tuesday, 12 June, with the aim of raising NZ$6.5 million to fuel further growth.
It follows the company’s successful 2015 equity crowdfunding exercise which saw it raise $2 million through the local online investing marketplace, Snowball Effect.
The investment will be used to drive growth of the Graham Norton range, expansion into the USA with a “new celebrity collaboration”, growth in its domestic market with Lion (New Zealand partner) and also in Australia, UK and Ireland.
Norton teamed up with New Zealand wine producers Invivo to launch the wine brand in 2014 alongside Invivo founders and winemaker, Tim Lightbourne and Rob Cameron.
The GN Sauvignon Blanc 2017 won a Gold medal in the Drinks Business Global Sauvignon Masters last year, a wine that was also chosen to be served in Qantas Business class. Since then, the team has expanded the Graham Norton range to include a Rosé, Shiraz and Prosecco, which Australian retailer Woolworths already lists, and is about to be launched by Lion in New Zealand.
Since 2015, Invivo sales have increased from $3.7m to a projected $13.9m this financial year, achieving a 374% bottle sales growth since their 2015 crowdfunding campaign.
From 50,000 bottles in 2015, this year the team is expected to produce more than three million bottles.