Baarsma Wine Group Holding takes the next step in its development together with ABN AMRO Capital
ABN AMRO Capital and Baarsma Wine Group Holding announce that 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 Léon 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.
Marc Staal, Managing Partner of ABN AMRO Capital in the Netherlands, says: "Baarsma Wine Group is a young, dynamic and fast-growing company that has a clear vision. 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, adds: "The financial and strategic support of ABN AMRO Capital will enable us to write a new chapter in the history of Baarsma Wine Group. ABN AMRO 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.
For further information, please contact:
Baarsma Wine Group ABN AMRO Capital
Tjeerd van der Hoek
Cees de Rade
020 628 6321
Note to the editor:
Advisers to ABN AMRO Capital
Legal: De Brauw Blackstone Westbroek (Arne Grimme)
Financial/Tax: PricewaterhouseCoopers (Cornelis Smaal/Gudo Doeve)
Commercial: OC&C Strategy Consultants (Max Groeneveld)
Advisers to Baarsma Wine Group
Corporate finance: Rabo Securities (Edwin Nobels)
Legal: van Doorne (Onno Boerstra)
Baarsma Wine Group
Baarsma Wine Group is a worldwide wine-trade house of quality wines for all market sectors. Baarsma was founded in 1977 and has built up an extensive distribution network in the Netherlands, Belgium and France. It exports to over 28 countries (particularly Japan, Eastern Europe, the United Kingdom and Scandinavia).
The Netherlands-based ABN AMRO is a leading international bank with total assets of EUR 999 bn (as at 30 September 2006). It has over 4,500 branches in more than 53 countries and territories, and has a worldwide workforce of over 110,000 expressed in FTEs. ABN AMRO is listed on Euronext and the New York Stock Exchange.
ABN AMRO Capital
ABN AMRO Capital is the global private equity business of ABN AMRO, with teams operating in seven countries worldwide (the Netherlands, UK, France, Spain, Italy, Sweden and Australia). Total funds under management by ABN AMRO Capital (as at 30 September 2006) were EUR 2.8 billion, of which EUR 533 million of capital was provided by international investors in ABN AMRO Capital managed funds in the UK, France and Australia. ABN AMRO Capital is one of the largest mid-market buyout house in the Netherlands and its main focus is to back management buyouts and management buy-ins of profitable, cash-generative companies usually with a value between EUR 50 – 500 mln. ABN AMRO Capital backs companies that are distinctive in terms of their products, market position, strategy, organisation or service. ABN AMRO Capital completed nine European buyouts with an aggregate deal value of EUR 1.3 bn and realised seven exits in 2006. This is ABN AMRO Capital’s second European buyout investment this year.
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