Purcari acquires majority stake in Bulgarian winery Angel’s Estate

Purcari Wineries, a leading wine and spirits producer in Romania and Moldova, announced it has acquired a 76% stake in Bulgarian wine producer Angel’s Estate Winery.

Angel’s Estate, located near Stara Zagora in the Thracian Lowlands, one of Bulgaria’s most important wine regions, operates around 100 hectares of vines and has an annual production capacity of over one million bottles.

It owns the Bulgarian wine brands Angel and Stallion.

As part of the transaction, current Angel’s Estate shareholders will retain a 24% stake in the winery and continue to act as a “value-added investor” in the development of the business, Purcari said in a statement. a statement.

Market consolidation

“The acquisition of Angel’s Estate is a step forward in realizing our vision of becoming the undisputed wine champion in CEE, acting as a consolidator of a fragmented industry,” commented Eugen Comendant, Chief Operating Officer, Purcari Wineries.

“We are adding a new geography to our group and consider it a huge privilege to build on Bulgaria’s millennia-old winemaking traditions, including expanding Angel’s Estate’s export footprint. We see strong synergies resulting from the integration of Angel’s Estate into the extended Purcari family and will work to maximize the potential of the business under new ownership.”

Purcari wine brands

Purcari Wineries owns a number of wine brands, including Purcari, Crama Ceptura, Bostavan, Bardar and Domeniile Cuza, and holds approximately 30% of the premium wine segment in Romania. It is also Moldova’s largest wine exporter, delivering to over 40 markets.

Since February 2018, the group has been listed on the Bucharest Stock Exchange.

© 2022 European supermarket magazine – your source for the latest beverage news. Article by Stephen Wynne-Jones. Click on subscribe register for ESM: European Supermarket Magazine.

Elisha A. Tilghman