Central and eastern European wine group Purcari Wineries has struck a deal to acquire Romanian wine producer CaraprodVin from its founding family.
The financial details of the transaction were undisclosed.
CaraprodVin is based in Vârteșcoiu, a town in the eastern region of Vrancea. The deal includes CaraprodVin's production facilities, "a primary vinification platform" and 33 hectares of vineyards, a statement from Purcari said.
Victor Bostan, the founder and CEO of Purcari Wineries, said the Vrancea region is known to be "one of Romania’s most important grape-growing regions, particularly for its white grape varieties and the distinct character they express".
He added: "Through this acquisition, we intend to invest in the local platform, build the right infrastructure for primary vinification, and grow alongside the region. Over time, we aim to become an important player in Vrancea and a trusted long-term partner for local grape growers."
In February, Purcari filed a binding offer to acquire Romanian competitor Serve Ceptura in full for an unknown sum.
The group said the moves to buy CaraprodVin and Serve Ceptura "reflect a deliberate effort to build a diversified, vertically integrated Romanian wine platform, anchored in two of the country’s most important appellations".
Headquartered in Moldova, Purcari claims to be among the largest wine groups in central and eastern Europe.
Its portfolio includes Crama Ceptura in Romania and Château Purcari in Moldova. It also produces brandy at its Bardar distillery in Moldova.
Purcari has seen changes to its management and ownership in the past 12 months.
In December, the group confirmed its then CEO Alexandru Filip would exit after he and the group “mutually agreed” to part ways.
Company founder Bostan was subsequently appointed chief executive officer.
In July, Polish food and beverage group Maspex acquired Purcari through a voluntary takeover offer valued at 604m lei (then $136m).
The purchase was carried out via Maspex Romania, which had taken a 1.6% stake in Purcari in March. Maspex now holds 72.5% of the company.
Bostan owns 15%, while more than 3,000 institutional and retail investors make up the rest of the shareholder base.
Last year, Purcari saw group revenue increase 14% year on year to 437.2m lei, while EBITDA in the year rose 7% to 114m lei.
Net profit declined 14% to 50m lei, which was "slightly softer than forecasted", the group said, due to a loss of 9.3m lei attributed to local operating currency depreciation.
