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 SIGNAL IDUNA companies concluded 2024 with a total gross written premium volume of approximately RON 424 million, marking an aggregated growth of 16% compared to the previous year. These financial results reflect the consolidation of a sustainable development strategy, supported by portfolio expansion, digitalization, the launch of new solutions for both individual and corporate […]
Kantar Romania launched, during an event dedicated to their clients, "The Trust Factor – Building Brands That Endure Uncertainty", the top 20 brands that manage to inspire the greatest confidence among the Romanian consumers, based on the analysis of 162 brands from 12 sectors*. In a period marked by uncertainty and skepticism, trust becomes the […]
Balancing career success with personal growth is a challenge many professionals face today. As the pressure to achieve and perform increases, many begin to crave more than just success: they want clarity, alignment, and a deeper sense of purpose. For Lin Holmquist, business coach and one of Europe’s most acclaimed experts in Tantra, Yoga, and […]
CFR Călători, the state-owned railway company for passengers, announced that the first train entirely made up of rolling stock modernized with funds from the EU-backed Recovery and Resilience Fund (PNRR) was introduced on the Bucharest North – Constanța route. The train, which is already running, consists of a locomotive delivered by the Softronic factory in […]
The first edition of Urban Habits (nUH), a festival aiming to be “a space for ideas, debates, co-creation, and experimentation,” takes place between April 26 and April 27 at Lokal and on Erou Ion Călin Street, which will be temporarily transformed into a pedestrian space. The program will address themes ranging from innovation, design, and […]
Mall Moldova, the largest shopping center in the Moldova region, officially opened on April 17 in Iași, covering 110,000 sqm. Developed by Prime Kapital, in partnership with MAS P.L.C., Mall Moldova is part of a large-scale investment plan carried out by the two investors in Iași, worth approximately half a billion euros, which also includes […]
