The winery is located near Stara Zagora, one of Bulgaria’s most important wine-making regions. It owns around 100 hectares of vineyards and the annual production capacity tops one million bottles.
As part of the deal, the current stakeholders in Angel’s Estate will keep 24% of the winery’s shares and will continue to aid develop the business.
“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.
The closing of the transaction is envisaged within two weeks from the signing date.
Purcari Wineries Public Company Limited manages around 1,350 hectares of vineyards and production platforms in Romania and the Republic of Moldova.
It is the biggest wine exporter in Moldova, delivering to over 40 countries.
It was listed on the Bucharest Stock Exchange in February 2018.
(English version by Catalina Apostoiu)