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Transaction / Assets Sigalas Winery in Oia, SantoriniSeller Paris SigalasBuyer A company owned by the shipowner Martinos€ MM 2.3
Sigalas Winery purchased by shipowner
A company owned by the Martinos shipowner family has reportedly acquired about 60% of the well-known company “Sigalas Winery SA”. The price of the transaction completed last month is estimated at €2.3 m.
The remaining 40% is still held by “Kyr-Yiannis SA”. There has already been a change in the composition of the Board of Directors, with Stelios Boutaris assuming the position of Chief Executive Officer.
“Sigalas Winery SA” was founded in 1991 under the name SIGALAS WINERY LTD. A new unit for the production, bottling and aging of wines was built and operated in 1998 in a privately owned space, while in 2003 the company’s shareholding was expanded. Since then, and with continued investment, today’s production infrastructure reaches 300,000 bottles per year. The company’s wines are exported to Germany, France, Belgium, Austria, the Netherlands, the UK, Cyprus, Switzerland, Hong Kong, Shanghai, Sweden, Singapore, Australia, Brazil, USA and Canada.
In 2018, Sigalas Winery reported sales of €3.4 m. Reportedly, the fiscal year 2019 ended with sales declining to €2.9 m, with a positive outlook.
Original Source: Capital.gr
Adaptation/Translation: Kiki Athanasiadis