Portobello Capital has acquired a 35% minority stake in Bodegas Torre Oria, located in Requena, Valencia. The shareholders and main executives of the wine company, Eloy Bautista and Pablo Aranda, have given Portobello Capital a stake in the company to boost its growth.
Portobello Capital's entry into Bodegas Torre Oria initiates a new phase of expansion, with the current partners and directors of the company continuing to lead the business.
Portobello Capital will provide Torre Oria and its partners with its experience in the food sector and will support its team in achieving an ambitious business plan that involves continuing to strengthen its main brands and developing innovative products in the wine sector.
Founded in 1897 by the Oria de Rueda family in Requena, Torre Oria is today a leading group in Spain in the production and distribution of wines and cavas for large-scale distribution, with 80% of its sales abroad.
Torre Oria today operates a unique industrial model, producing wines that are accessible and easy to understand for all types of consumers and adapted to any moment of consumption. The entry of Portobello Capital comes at the same time as the inauguration of the new bottling plant, which will double its production capacity to 70 million bottles per year. Torre Oria's products have been very successful in recent years in both the domestic and international markets, with well-known brands such as Knock Knock and AVIVA.
"Since our arrival in 2013 we have managed to transform a local company into a group with a consolidated international positioning, thanks to our commitment to satisfy the needs of any type of consumer, both of those regulars and those who want to enter the world of wine. Now we believe that the time has come to take the next step that will allow Torre Oria to achieve more ambitious challenges and for this reason we will count from today with a partner with proven experience in the food sector such as Portobello, which has built many success stories in the industry over its long history and which we are convinced will be the ideal partner to accompany us in this new stage", says Eloy Bautista, CEO and majority shareholder of Torre Oria.
"We are very excited to join the Torre Oria project and want to actively support the next stage of growth by contributing with our expertise. Torre Oria operates a unique and differential model in a traditional sector with great relevance in the Spanish industrial fabric. We are delighted to partner with Eloy and Pablo and help them achieve the ambitious business plan that lies ahead," said Victor Virós, Principal of Portobello Capital.
The investment in Torre Oria is the third transaction of the Portobello Structured Partnerships Fund I, whose investment objective is to provide flexible, non-control equity solutions to middle market companies and entrepreneurs in Spain and the rest of Europe. Portobello Capital has extensive experience investing in food manufacturers where it has historically taken majority positions, this being the first investment in a food manufacturer where it enters as a minority partner.
About Portobello Capital:
Founded in 2010, Portobello Capital is one of the leading independent middle market private equity managers based in Spain with investments in Southern Europe. It has more than €2.1 billion of assets under management, a team of thirty-seven professionals and twenty-one portfolio companies.
About Bodegas Torre Oria:
Founded in 1897, Torre Oria is one of the most representative wineries in the Valencian Community. Since 2013, coinciding with the arrival of the current management team, the group has undergone a significant transformation, becoming a less capital-intensive company, focused on the creation and development of very competitive brands and products with wide recognition in the market, particularly internationally, thanks to its unbeatable value for money. Among its most successful products aimed at both Spanish and foreign consumers are the Knock Knock brand wines and innovative wine-based products such as AVIVA.
Advisors:
Portobello Capital has been advised on the transaction by EY (due diligence) and Baker McKenzie (legal advisor).
Torre Oria has been advised on the transaction by Baideko (financial advisor) and MAIO Legal (legal advisor).
Photo: Eloy Bautista, bodega Torre Oria's CEO
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