Purcari Wineries Plc (“Purcari”, “Group”), one of the leading wine producers in CEE, announced today that Lorimer Ventures Limited, a wholly-owned subsidiary of Emerging Europe Growth Fund II, L.P. (“EEGF II”), managed by Horizon Capital, sold its remaining 22.7% stake in the Group via an accelerated book building (ABB) process. Horizon Capital, a private equity firm with over $850 million under management, has been a shareholder in Purcari since 2010 via EEGF II, its $370 million vintage 2008 fund.
"Purcari Wineries has benefited immensely from its partnership with Horizon Capital over the years, achieving many significant milestones together, including becoming a CEE wine champion and listing the Company in early 2018. We are delighted that Horizon Capital Partner Vasile Tofan, who has led the Purcari investment on behalf of EEGF II since 2012, will remain as Chairman of the Board of Purcari going forward and continue to contribute to our success. We understand the need for private equity funds to exit, in particular after a nine-year holding period, though we welcome Horizon Capital as shareholders from future funds, should the opportunity arise. As Founder and CEO of Purcari, I welcome the blue-chip institutional investors who have acquired this stake and look forward to delivering value and returns to all of our shareholders in the years to come”, said Victor Bostan, Founder and CEO of Purcari Wineries.
“We are pleased with the overall returns delivered to EEGF II investors, which were only possible because of the vision and leadership of Victor Bostan and the extraordinary team at Purcari. At the same time, I am confident, Purcari is at the beginning of a truly great journey, one that will leave a significant legacy in the world of wine, delivering outstanding returns to investors who back the Company’s ambitious vision”, added Vasile Tofan, Chairman of Purcari Wineries and a Partner at Horizon Capital.
About Purcari Wineries
Purcari Wineries Plc (Purcari, Crama Ceptura, Bostavan and Bardar brands) is one of the largest wine and brandy groups in the CEE region. The Group manages over 1,392 hectares of vineyards and operates four production platforms in Romania and Moldova. Purcari is the leader in the premium wine segment in Romania, with a 25% segment share, and the largest wine exporter from Moldova, delivering to over 40 countries. Founded in 1827, Purcari is the most awarded winery in CEE at Decanter London 2015-2019 and among the best ranked on Vivino, with an average score of 4.0 out of 5.0, based on over 29,000 reviews. Starting February 2018, the Group is listed on the Bucharest Stock Exchange, under the ticker WINE. Purcari is led by Victor Bostan, a 30+ years wine business veteran and backed by top institutional investors, including Franklin Templeton, SEB, Fiera Capital and IFC.
Source: BVB - http://m.bvb.ro/FinancialInstruments/SelectedData/NewsItem/WINE-Press-Release-Horizon-Capital-exits-Purcari-Wineries-via-ABB/97E95
The countdown is on until the start of the largest local fest, Transilvania International Film Festival on 13 June. Or, as everyone calls it: TIFF. To pass the time and (or) have an alternative, do not miss some of the most entertaining stories of all time courtesy of suspense master Alfred Hitchcock. And check out […]
Roughly 45.7% of Romanians believe the country’s May presidential elections were rather unfairly organized, while 50.4% believe they were fair, according to a survey by INSCOP Research. Romania's previous presidential elections, which saw centrist Bucharest mayor Nicusor Dan emerge victorious, saw extreme polarization. Immediately after...
CARFIL Brasov, central Romania, is set to begin production of three types of Romanian military UAVs this year, news agency Agerpres reported. The drones, named Cuda, Sirin, and a marine drone, were unveiled at the Southeast Europe Special Operations Forces Forum 2025 (SEESOF) in Targu Mures, the first international expo-forum dedicated to the special operations forces. ...
The National Meteorological Administration of Romania, or ANM, aims to become a European regional hub for professional training in the field of climate change, according to director general Elena Mateescu. The official noted during “The Future of Agriculture” forum held on Thursday, June 5, that the ANM has already completed the European Agrometeorology Center, which […]
Romania’s Interior Ministry (MAI) and Defense Ministry (MApN) have warned of ongoing disinformation campaigns on social media aimed at manipulating public opinion. The latest wave of false claims includes reports about the imposition of martial law and border closures, seeking to heighten public anxiety over the risk of war. Romanians, whether abroad or within the […]
The International Monetary Fund (IMF) issued new recommendations to Romania, among which is an increase in VAT, but also excise duties, dividend taxes, and the introduction of two income tax rates of 15% and 25%. At the same time, it recommends the reduction or elimination of the health insurance contribution, as well as a change in […]
