Boutinot sold in MBO
BOUTINOT, the privately-owned wine importer, producer and supplier, has been sold in a management buyout.
The deal means an exit for Paul Boutinot who founded the Stockport-based business in 1980. It now employs 80 staff and has annual sales of £95m.
The value of the deal was not disclosed but it was supported by a £20m facility from Barclays and additional funding from the management team, and an Italian partner, Araldica Castelvero.
The management team was led by Dennis Whiteley, Michael Moriarty and Tony Brown.
Mr Whiteley, managing director, said: “I would like to thank Barclays for their enthusiastic support for this transaction. They spent two years building a relationship with us and were then able to structure a funding package that suited our long term needs. 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.”
As well as France, Boutinot has businesses in the US and South Africa and a joint venture in Italy. It was set up to source wines for Mr Boutinot’s parents’ restaurant in Heald Green. It now has a portfolio of more than 800 wines.
Barclays was advised by DWF, the management team was advised by Laytons Solicitors and Mazars, and the vendor was advised by Slater Heelis Solicitors and KPMG.
