Wine distributor Boutinot has been bought in a management buy-out that will see the departure of founder Paul Boutinot.
The Cheshire-based company, which produces wine from its own vineyards as well as importing wines from around the world, supplies Tesco, Sainsbury’s, Marks & Spencer and Waitrose, as well as independent retailers, international buyers and the on-trade.
Although the amount paid for the buyout was undisclosed, the deal was supported by a £20m loan from Barclays plus an additional equity injection from a key Italian supplier, Araldica Castelvero SCA.
Chairman Peter Renshaw is also stepping down, and the new team will be led by managing director Dennis Whiteley, along with communications director Michael Moriarty and Master of Wine Tony Brown. Araldica’s general manager Claudio Manera will join the board as non-executive chairman.
Whiteley said that the funding package would allow for the long-term needs of the company, which employs 80 employees and has an annual turnover of over £95m.
“The whole team at Boutinot has worked tremendously hard over the past 10 years to establish a successful business which is now set for further growth,” he said.
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