Purcari Wineries bids for rival Romanian group Serve Ceptura

Core Viewpoint - Purcari Wineries has made a binding offer to fully acquire Romanian competitor Serve Ceptura, aiming to enhance its vineyard footprint and production capacity in the Dealu Mare wine region [1][2]. Group 1: Acquisition Details - The acquisition would expand Purcari's vineyard area by approximately 60 hectares in Romania's Dealu Mare wine region [1]. - The proximity of Serve's winery to Purcari's existing Crama Ceptura winery allows for immediate operational synergies and improved efficiency across the value chain [2]. - The deal is positioned as a strategic move to strengthen Romania's presence in global wine markets by uniting two producers committed to authenticity and terroir [2]. Group 2: Serve Ceptura Overview - Serve Ceptura produces nearly 0.5 million bottles annually and has full-cycle production facilities with a storage capacity of about 1 million liters [3]. - The winery has established a significant export presence in Canada [3]. Group 3: Purcari Wineries Background - Purcari is among the largest wine groups in Central and Eastern Europe, with a portfolio that includes brands from Moldova, Romania, and Bulgaria [4]. - The company also produces brandy through the Bardar distillery in Moldova [4]. Group 4: Recent Developments - In July, Polish food and beverage group Maspex acquired Purcari, valuing the company at 604 million lei (approximately $136 million) [5]. - Maspex now holds a 72.5% stake in Purcari, while founder Victor Bostan retains a 15% ownership [5]. - Bostan returned as CEO in December after the departure of former CEO Alexandru Filip [5]. Group 5: Financial Performance - For the first nine months of 2025, Purcari reported revenue of 300.6 million lei, reflecting a 15% increase compared to the same period in 2024 [6]. - However, EBITDA for the same period decreased by 1% year on year to 84.7 million lei, with the EBITDA margin narrowing by five percentage points to 28% [6].