Purcari Wineries sells its stake in Glass Container Company to Vetropack

by Romanian Reporter - Friday, December 11, 2020 4:30 PM

Purcari Wineries sells its stake in Glass Container Company to Vetropack

Vinaria Purcari SRL, a wholly-owned subsidiary of Purcari Wineries PLC (BSE symbol WINE), has exited Glass Container Company (GCC) for a cash consideration of €7,224,093 to Vetropack Group, a leading Swiss corporate group in the European glass packaging industry, announced Victor Arapan, Purcari Wineries' CFO on December 10, 2020.

The wine producer from the Republic of Moldova owned a minority stake of 31.3% in GCC, a glass bottle producer from the same country.

Vetropack Group has manufacturing facilities and sales and distribution centers in Switzerland, Austria, Czech Republic, Slovakia, Ukraine, and Italy.

Purcari is one of the main wine and brandy producers in Central and Eastern Europe, managing approximately 1.000 hectares of vineyards and 4 wineries in Romania (Crama Ceptura) and the Republic of Moldova (Purcari, Bostavana, and Bardar).

It is also the biggest wine exporter from Moldova, with deliveries in over 30 countries from Europe (Poland, Czech Republic, Slovakia, Ukraine, Norway, UK, etc.), Asia (China, Japan, South Corea), and America (the USA and Canada).

Starting with February 2018, Purcari Wineries is listed on the Bucharest Stock Exchange (Bursa de Valori Bucuresti), representing the first IPO of a company from Moldova.

The company managed to overcome the impact generated by the lockdown in the hospitality field, increasing its sales by 26% in the Romanian market, which accounted for 51% of total sales. Purcari Wineries reported EBITDA earnings of RON 47.3 million (€9.7 million), up with 1.72% compared to the similar period from the last year.

See more on this topic on profit.ro

Photo: Purcari

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