Nordic drinks firm Anora has signed an agreement to acquire Denmark’s Globus Wine for DKK 596.4 million (€80 million).
The purchase price equals an enterprise value of DKK 669.6 million (€90 million), the company said.
Anora believes that the acquisition will consolidate its position as one of the leading wine and spirits groups in the Nordic region.
Globus Wine has built a wine business with leading own-brand wines and boasts the largest capacity in Northern Europe to offer filling services to international wineries and wine importers.
In 2021, Globus Wine generated net sales of DKK 549.6 million (€73.9 million), while adjusted EBITDA amounted to DKK 66.2 million (€8.9 million).
‘Anora’s First Acquisition’
Anora CEO Pekka Tennilä, commented, “I am very excited to be able to announce Anora’s first acquisition today. Globus Wine is a market leader in Denmark with consistent above-market growth during the last years.
“Through this acquisition, Denmark will be one of our markets where we have leading positions in both wine and spirits. Like Anora, Globus Wine believes in sustainable business, using wind power and significantly reducing the CO2 footprint of wine with logistics solutions and climate-smart packaging.”
Founded in 2006, Globus Wine sources wine in bulk which is filled in either bag-in-boxes or bottles at its production facility in Køge.
The products are sold as own brands or third-party brands, with customers ranging from top retail chains in Denmark to large international wine houses.
It is one of the leading providers of wine brands, such as the Il Capolavoro and California Route 2, in the Danish grocery trade.
Globus Wine CEO, Jens Voldmester, said, “Anora is a perfect match for Globus Wine, and we are very much looking forward to further developing the Nordic market together with Anora.
“With Anora’s strong position and very high competencies in wine, I am sure that under the new ownership combined with a strong and passionate organisation in Globus Wine, we can continue the journey that Globus Wine is on and expand our position with our own brands, as well as the market for filling solutions.”
Deal Near Completion
Globus Wine employs 139 people in Denmark and they will continue as employees of the company after the acquisition.
With no regulatory approvals needed, the deal is expected to close at the beginning of July.
Anora added that it plans to consolidate Globus Wine to Anora Group as of the third quarter of 2022.
Janne Halttunen, SVP of wines at Anora, added, “This acquisition does not only make Anora the market leader in the highly competitive Danish wine market, but also strengthens our wine business area.
“Globus Wine’s skilled and professional teams have built a successful own wine brands business with their strong capabilities in brand-building and wine sourcing. I look forward to our future collaboration, through which we can further build and grow our own wine brands across all our markets.”