ABN AMRO Capital is to acquire a majority interest in Baarsma Wine Group. The members of the management team will retain a substantial stake in the company. The intended transaction is subject to approval of the competition authorities.
Baarsma Wine Group is one of Europe’s most successful wine distribution houses. In the Benelux its market leadership is continuously strengthened through the growth of its various operating companies such as Wine Excel, Oud Reuchlin & Boelen, Baarsma Wine Group Nederland, Hasselt Millesime and Wijnvoordeel. These specialised wine companies work autonomously and have strong positions within the different segments of the wine market. The group expects to achieve a turnover of approximately EUR 175 million in the financial year 2006/2007.
Since the successful management buyout in 2005, Tjeerd van der Hoek and Cees de Rade have executed a clear buy & build strategy, resulting in a number of successful acquisitions, including Lon Colaris, Wijnkoperij Wielinga and Kaapkelder B.V. In order to consolidate the company’s position in North-Western Europe, the growth strategy will be continued in the next few years.
“Baarsma Wine Group is a young, dynamic and fast-growing company that has a clear vision,” says Marc Staal, Managing Partner of ABNAMRO Capital in the Netherlands. “It has distinguished itself by its continuous efforts to develop ‘winning strategies in wine’ for its various operating companies. We have known the company since 2002, and see good opportunities for accelerating its ambition to become the European market leader in this segment.”
Tjeerd van der Hoek, CEO of Baarsma Wine Group, says the financial and strategic support of ABNAMRO Capital will enable the firm to “write a new chapter in the history of Baarsma Wine Group. ABNAMRO Capital has a strong track record in supporting buy & build strategies and fully endorses the ambitions of Baarsma’s management.”
With their 40% stake in the company, Tjeerd van der Hoek and Cees de Rade (COO), the current management team, will remain directly involved in the company and continue to play a pivotal role in the company’s development. In addition to these shareholders, managers in key positions will be given the opportunity to participate in the business.