The hotel closed last November.
Alexandra-based shearing contractor Dion Morrell bought the pub and plans to open the business in mid-December.
Its doors were locked after a lease expired and it was put in the hands of mortgagee company Credit Union North.
As the only licenced premises in Poolburn, the pub served locals and visitors alike for more than 100 years.
The next closest establishments are 10 minutes' drive away, over Blacks Hill at Ophir and Omakau.
There is also a watering hole about 30 minutes up the Ida Valley at Oturehua.
Mr Morrell's motivation for buying the property was to house a percentage of his shearing gangs, which predominantly work throughout the Ida Valley and Maniototo.
A shearing quarters in Wedderburn houses some workers, as does another at Alexandra.
Mr Morrell said it was more cost-effective to base workers at Poolburn than in rented Alexandra accommodation.
"We are pleased to be here, it's a pretty iconic building and there's a lot of history in the area which we will try to look after. It will serve its role in the community the way it always has," he said.
As the facility had existing accommodation and kitchen facilities to cater for about 20 permanent occupants, it was easy to convert into a shearing quarters, he said.
Despite Mr Morrell's focus on his shearing business, he decided to renew licences and operate the bar as well.
"I've no interest in being a publican - that's just not me, so we want to get the structure in place and then step away from it. But operating the bar is a means to an end in regard to our other business," he said.
Mr Morrell has received some criticism about "handing over pay checks in one hand and taking them back with the other", but he insists that is not his intention.
"Alcohol consumption is an issue in our industry and this way we do have some control over it. I can't force other pubs to close at 10pm but I can close mine.
"Shearers who drink until midnight and wake up at 5am hungover are no use to me, and I want my workers to go home after three months with something to show for it," he said.
Mr Morrell bought the business in June but spent the four months to October 31 tied up with pre-lamb shearing.
The six weeks he has had to work on the pub have been hectic, with most of the floor needing to be replaced and other repair work being undertaken.
All going well, Mr Morrell will comfortably house up to 15 workers in the pub for his busy summer shearing season starting in January.
Remaining rooms will be available for public accommodation.
