The business reported a net loss of $31.5m for the period, an improvement on the $42.6m loss the year prior.
Constellation NZ has been approached for comment.
Asset sale
Buried in Constellation NZ’s financial statements was a subsequent event relating to the disposal of brand assets and associated business operations.
This statement refers to the company’s sale of eight brands, including Selaks, Little Harvest, The People’s Wine, Young & Co, State of Light, Wild Grace, Superstate and Tipping Point, to family-owned wine company Poulter Group.
The deal included other assets such as Selaks’ 10,000-tonne winery, vineyard and manufacturing facility.
The statements confirm Poulter Group purchased the brands and associated assets for $28.3m.
Tom Raynel is a multimedia business journalist for the Herald, covering small business, retail and tourism.
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