Wed, 27 Mar 2013 | MBO/MBI
Wine producer and importer Boutinot has been bought by its management team for an undisclosed amount.
The management buy-out deal was backed by a £20 million facility from Barclays Bank, with additional cash from the management team and one of the firm’s largest suppliers, wine cooperative Araldica Castelvero.
The management team is headed by managing director Dennis Whiteley, alongside commercial director Michael Moriarty and master of wine Tony Brown.
The Stockport-based wine supplier has over 800 wines in its portfolio, 80 staff and annual sales of £95 million. Its founder Paul Boutinot - who set up the business in 1980 to source wines for his parents’ restaurant in Heald Green - will be exiting the business.
Boutinot has a presence in France, the US and South Africa, as well as a joint venture in Italy. It is an exclusive UK agent to 150 producers from across the globe and supplies to UK and international retailers, restaurateurs and wholesalers. Supermarkets supplied include Tesco, Sainsburys and Waitrose.
Mr Boutinot told the Manchester Evening News, “I’m thrilled that the business has been taken on by the team I know well. It is good for the staff, the loyal customer base and the producers, many of whom have been close to the business since the beginning.
“The team is well-placed to take the business forward and build on the success they have already created.”
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