The contract, worth $100 million over that period, was believed to be the first agreement of its kind, not only for New Zealand's fibre industry, but also globally.
It was announced last week Icebreaker, founded by Jeremy Moon in 1995, was being sold to US-based VF Corporation. Terms of agreement for the sale were not disclosed.
Icebreaker was one of the New Zealand Merino Co's anchor markets with NZM facilitating wool contracts with the growers in partnership with Icebreaker.
In a statement, Mr Moon, who has committed to an ongoing role with Icebreaker, said the new contracts recognised the ``integral role'' New Zealand growers played in the Icebreaker story.
NZM chief executive John Brakenridge said the announcement was further endorsement of a business model designed to reimagine how wool fibre was sold.
Among the first growers to commit to the contract were Simon and Lucy Maling, who farm near Tarras in Central Otago.
The couple had recently taken over the farm and planned to invest ``significant capital'' in improving their operation. The contract gave them the ability to have total clarity concerning future volume and wool specifications as well as ``unprecedented'' price security, they said.
