Schoenherr advises Horizon Capital on its exit from Purcari Wineries, one of the leading wine producers in CEE

Schoenherr advised Horizon Capital, the management company of Emerging Europe Growth Fund II L.P. (“EEGF II”) that used to indirectly hold a 22.7% stake in Purcari Wineries Plc (“Purcari”), on the fund’s exit from Purcari. The sale was carried out through an accelerated book building process addressed to investors worldwide, exempted from the obligation to publish a prospectus or from registration of securities with the US Securities Commission (the “ABB”). The 22.7% stake was priced at over EUR 19 million, generating for the fund 3.3 times cash-on-cash gross return on this transaction.

The Schoenherr team advising Horizon Capital was led by Veronica Das Alexeev (attorney at law, Romania, capital markets), and further consisted of Vlad Săndulescu (attorney at law, Romania, capital markets), Narcisa Oprea (partner, Romania, capital markets), and Silviu Lazăr (associate, Romania, capital markets).

Horizon Capital is a private equity firm with over $850 million under management, and has been a shareholder in Purcari since 2010 via EEGF II, its $370 million vintage 2008 fund.

Purcari (Purcari, Crama Ceptura, Bostavan and Bardar brands) is one of the largest wine and brandy groups in the CEE region (the “Group”). The Group manages over 1,392 hectares of vineyards and operates four production platforms in Romania and Moldova. Purcari is the leader in the premium wine segment in Romania, with a 25% segment share, and the largest wine exporter from Moldova, delivering to over 40 countries.