The companies on the investors’ list include Cramele Recas, Cramele Halewood and Rotenberg.
“Cramele Recas is one of the best targets in the winemaking business at the moment if analyzing both financial data and the business and products,” says a market source, adding that several private equity firms and foreign strategic investors are looking at Romania’s EUR350 million wine market.
“The development prospects and the results we’ve achieved so far do not justify interest from any of our shareholders in selling any of the entities that make up Cramele Recas in any way,” the company officials told ZF.
Rotenberg, too, denies such information, while Dan Muntean, Halewood chief executive, said he knew nothing about a potential sale.
In 2015, Cramele Recas group posted about EUR28 million revenue, and may reach about EUR35 million in 2016, according to ZF’s calculations based on the data supplied by the group.
Cramele Recas is one of the largest winemakers in Romania by revenue and by vineyard area. It is valued at EUR40 million to EUR50 million (enterprise value), market sources say.
(English version by Loredana Fratila-Cristescu)