Toast eaten by Foley Wines
U.S.-based Foley Wines has taken over Toast Martinborough, ingesting the long-running festival into its growing portfolio of wine, food and hospitality activities across New Zealand.
After a cash-raising effort by the Toast Martinborough board failed to raise enough capital to cover the shortfall from the 2023 Toast Martinborough event, Foley stepped in.
Its offer “to buy out shareholders and provide the necessary funds to settle outstanding debts with suppliers” was accepted by Toast’s board.
Foley Wines described the 30-year-old annual festival as “iconic” when it announced the take over. … Continue Reading
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