Purcari Wineries CEO Alexandru Filip is departing after he and the eastern European group “mutually agreed” to part ways.

In a statement, Purcari said its board has approved the appointment of company founder Victor Bostan as CEO.  

The move is intended, the board added, to “ensure continuity of leadership and the consistent execution of the group’s strategy”.

In July, Polish food and beverage group Maspex acquired Romania-listed Purcari through a voluntary takeover offer valued at 604m lei ($136m).

Earlier this week, Purcari named Krzysztof Grabowski, the founder and president of Maspex Romania, as non-executive chairman of its board of directors.

Commenting on his exit, Filip said: “It has been an honour to serve as chief executive officer during a pivotal phase in Purcari’s development, marked by strong commercial performance and a successful transition in our shareholder base.”

Purcari claims to be among the largest wine groups in central and eastern Europe.  

Its portfolio includes Château Purcari and Domeniile Cuza in Moldova, Crama Ceptura in Romania and Angel’s Estate in Bulgaria.

The company also produces brandy via the Bardar distillery in Moldova. 

The management reshuffle comes shortly after changes at board level.  

In July, Polish food and beverage group Maspex acquired Romania-listed Purcari through a voluntary takeover offer valued at 604m lei ($136m).  

The deal was executed via Maspex Romania, which had already secured a 1.6% holding in Purcari in March. 

Maspex now controls a 72.5% stake. Bostan retains a 15% shareholding, while more than 3,000 institutional and retail investors continue to hold the remaining equity. 

Bostan added: “I would like to express my sincere gratitude to Alex Filip for his leadership, dedication, and remarkable ability to understand and navigate the complexities of the wine industry in an exceptionally short period of time. I am equally grateful to Maspex for their trust, support, and long-term vision as our majority shareholder.” 

For the first nine months of the year, Purcari reported revenue of 300.6m lei, a 15% increase compared with the same period in 2024.  

Profitability, however, moved in the opposite direction. 

EBITDA for the nine-month period slipped 1% year on year to 84.7m lei, with the EBITDA margin narrowing by five percentage points to 28%.  

Net profit declined 17% to 36.1m lei, and the net margin decreased to 12% from 17% a year earlier.