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Moldova's Purcari Wineries expands to Turkey

Jan 16, 2024, 2:39:06 PMArticle by Razvan Timpescu
share
January 16 (SeeNews) - Cyprus-based Moldovan wine maker Purcari Wineries [BVB:WINE] said it has acquired a 90% stake in newly established Turkish company HTA Danismanlik Turizm Dis Ticaret Limited Sirketi.

Moldova's Purcari Wineries expands to Turkey
Purcari Wines

The acquisition marks a step forward for Purcari in increasing its footprint and market position in the Middle East and Africa region, the company said in a report filed with the Bucharest Stock Exchange on Monday.

The remaining 10% of HTA will be retained by Husnu Tayanc, a business executive and Purcari’s local partner in Turkey.

The transaction aligns with Purcari's commercial strategy of developing new markets, after opening a non-commercial representation office in China in 2019 and a trading company in Ukraine in 2021, the company said.

Purcari Wineries manages around 1,450 hectares of vineyards and operates seven production platforms in Romania, Moldova and Bulgaria. The company is the leader in Romania's premium wines segment with a market share of approximately 25% and the largest wine exporter from Moldova, delivering to over 40 countries.

Blue-chip Purcari Wineries shares traded 3.36% higher at 15.4 lei ($3.36/3.09 euro) per share as of 1314 CET on Tuesday, on the Bucharest bourse.

(1 euro = 4.97657 lei)

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