The sparkling wine market continues to consolidate: the second-largest player in terms of turnover, German-held Karom Drinks, maker of the Faber sparkling wine, took over 44.5% in Zarea SA Bucharest, paying almost 900,000 euros, in the wake of a public offering.
Late last year, Henkell&Soehnlein, another German company, bought the producer of Angelli sparkling wine. As a result, German companies now hold more than two thirds of the Romanian sparkling wine market.
The Privatisation Authority (APAPS) sold its 40% stake in Zarea under the offer launched by Karom, which, at the last moment, decided to double the price it had offered per share. The rest of the shares were bought from the market.
"We want to turn Zarea back into what it used to be: the top producer of sparkling wines. This is very difficult, though, and it will take us several years to reach this goal," says Emil Popescu, general manager of Karom Drinks, held by Schloss Wachenheim of Germany, the world's largest producer of sparkling wine in terms of number of sold bottles.
Popescu says that his "biggest" problem in celebrating the event was choosing a bottle of wine: Faber or Zarea?
Karom launched a public purchasing offer for a stake of 49.9% in Zarea at an initial price of 2,250 ROL/share, but it practically doubled this price, to 5,000 ROL/share two days before the subscription period ended. The Privatisation Authority made up its mind at the last moment, being finally tempted by the price offered by Karom.
stelian.negrea@zf.ro
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