Purcari public offer closes at RON 19/share

Anca Alexe 09/02/2018 | 15:03

The public offer for the sale of the 9.8 million shares of Purcari Wineries closed yesterday, at a final price of RON 19/share, the minimum in the offer.

The total value of the offer for 49 percent of the company’s shares is RON 186.2 million, while the company is evaluated at RON 380 million.

Purcari had an average revenue growth rate of 34 percent in 2014-16. The rate maintained in the first nine months of 2017, during which the company grew by 35 percent per year.

Before the offer, the company was owned by Horizen Capital (through Lorimer Ventures Limited) as the majority shareholder with 63.5 percent, International Finance Corporation with 6.41 percent, and Victor Bostan (founder and general manager of Purcari, through Amoselt Universal) with 30.03 percent. Through the offer, Horizon Capital reduced its ownership to 22.69 percent, IFC to 3.27 percent, and Victor Bostan to 25.03 percent.

Purcari Group also announced that it would strengthen its position in the premium and medium+ segments in China by expanding its product range on this market.

Purcari will offer China consumers 14 varieties produced at Bostavan and Bardar, of the DAOS Reserve, Ice Wine DAOS and DAOS sparkling and brandy ranges.

Artur Marin, commercial director at Purcari Group, said: “The China market is one of our interest points, and the success we have had with the mainstream DAOS range has convinced us of the potential our products have in this area. We confidently enter this new consolidation phase of our presence on the China market and we are eager to see the first reactions of wine lovers in this country as they try the new ranges.”