Angel’s Estate is a full cycle winery located near Stara Zagora, in one of the most prominent wine regions in Bulgaria, Thracian Lowlands. The Winery operates circa 100ha of own vineyards and has an annual production capacity exceeding one million bottles, producing some of the best-known Bulgarian wine brands, including Angel and Stallion.
The company’s report does not disclose the value of the stake.
“The acquisition of Angel’s Estate is a step forward to achieve our vision of becoming the undisputable wine champion in CEE, acting as a consolidator of a fragmented industry. We are adding to our Group a new geography and see it as a huge privilege to build on the millennial wine traditions of Bulgaria, including by expanding the exports footprint of Angel’s Estate. We see strong synergies resulting from Angel’s Estate becoming part of the extended Purcari family and will work on maximising the potential of the business under the new ownership”, commented Eugen Comendant, COO of Purcari Wineries PLC.
Purcari posted RON124 million revenues in the first six months of 2022, up 16%, and RON20.8 million net profit, 2% higher than in 1H/2021.
The company’s shares have lost 40.7% since early 2022, amid RON110 million deals. It has a RON354 million capitalization.
(English version by Catalina Apostoiu)