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Purcari Wineries wine producer has announced today that Lorimer Ventures Limited, a wholly-owned subsidiary of Emerging Europe Growth Fund II, L.P. (“EEGF II”), managed by Horizon Capital, sold its remaining 22.7% stake in the Group via an accelerated book building (ABB) process. Horizon Capital, a private equity firm with over USD 850 million under management, has been a shareholder in Purcari since 2010 via EEGF II, its USD 370 million vintage 2008 fund.
“Purcari Wineries has benefited immensely from its partnership with Horizon Capital over the years, achieving many significant milestones together, including becoming a CEE wine champion and listing the Company in early 2018. We are delighted that Horizon Capital Partner Vasile Tofan, who has led the Purcari investment on behalf of EEGF II since 2012, will remain as Chairman of the Board of Purcari going forward and continue to contribute to our success. We understand the need for private equity funds to exit, in particular after a nine-year holding period, though we welcome Horizon Capital as shareholders from future funds, should the opportunity arise”, said Victor Bostan, Founder and CEO of Purcari Wineries.
“We are pleased with the overall returns delivered to EEGF II investors (…) I am confident, Purcari is at the beginning of a truly great journey, one that will leave a significant legacy in the world of wine, delivering outstanding returns to investors who back the Company’s ambitious vision”, added Vasile Tofan, Chairman of Purcari Wineries and a Partner at Horizon Capital.
Purcari Wineries manages over 1,392 hectares of vineyards and operates four production platforms in Romania and Moldova.
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