Purcari Wineries Group completes the acquisition of Timbrus Purcari Estate

Purcari Wineries Public Company Limited (BVB: WINE; henceforth “Group”, “Company”), announces today the signing of the Share Purchase Agreements for a 100% stake in Timbrus Purcari Estate SRL (“Timbrus”)..

With this new addition, Purcari Wineries is extending its position in the Stefan Voda Protected Geographical Indication (IGP) wine region, adding ~130 ha of agricultural land, including 112 ha of high-quality vineyards in the Purcari village. This acquisition is expected to bring the total Group area of vineyards under management to nearly 1,600 ha. As part of the deal, the Company will acquire all other Timbrus assets, including product inventories and equipment.

“Through this acquisition we secure our supply of high-quality grapes in the Purcari village, to sustain our accelerated growth as we ramp up our export sales. Our Purcari brand grew by almost 30% in 2023 and we are looking forward to years of sustained growth ahead, as we continue to build Purcari into one of the most recognizable and respected wine brands globally. We will apply the highest quality standards to the Timbrus assets, as we integrate them into our Group”, said Victor Bostan, CEO of Purcari Wineries PCL.

The Closing of the transaction is envisaged within three weeks from the signing date.

The entire statement can be accessed here.