Angel’s Property is a full cycle vineyard positioned close to Stara Zagora, within the distinguished wine area, Thracian Lowlands. The vineyard operates circa 100ha of personal vineyards and has an annual manufacturing capability exceeding a million bottles, producing wine manufacturers together with Angel and Stallion.
Eugen Comendant, COO of Purcari Wineries PLC, mentioned: “The acquisition of Angel’s Property is a step ahead to attain our imaginative and prescient of changing into wine champion in CEE, appearing as a consolidator of a fragmented trade.
“We’re including to our Group a brand new geography and see it as an enormous privilege to construct on the millennial wine traditions of Bulgaria, together with by increasing the exports footprint of Angel’s Property. We see robust synergies ensuing from Angel’s Property changing into a part of the prolonged Purcari household and can work on maximising the potential of the enterprise underneath the brand new possession,” Comendant added.
As a part of the transaction, the present shareholders of Angel’s Property will retain a 24% stake within the vineyard and proceed appearing as a value-add investor in growing the enterprise. The closing of the transaction is envisaged inside two weeks from the signing date.
