Boutinot announces buy-out25th March, 2013 by Gabriel Savage
Boutinot has confirmed a management buy-out led by managing director Dennis Whiteley, commercial director Michael Moriarty and Tony Brown MW.
The move is supported by Barclays Bank and Araldica Castelvero, a Piedmonte-based wine co-operative and one of the company’s key supply partners.
As a result of this buy-out, Paul Boutinot, who founded the UK-based producer, importer and distributor over 30 years ago, will step down to focus on his biodynamic South African wine estate Waterkloof.
Peter Renshaw, who has held the post of chairman at the firm for the last 10 years, will also retire. Instead Claudio Manera, general manager of Araldica will step into the role of non-executive chairman.
With just under 80 employees an annual turnover of more than £95 million, Boutinot has a portfolio of over 1,000 wines and is exclusive agent to 150 producers from around the world. These include Fernando de Castilla Sherry, Vallet Frères in Burgundy and Emiliana from Chile.
In addition to supplying UK and international restaurants, retailers and wholesalers, the company owns a number of vineyards and production facilities in both northern and southern hemispheres.
Commenting on the buy-out, Paul Boutinot said: “I’m thrilled that the business has been taken on by the team I know well. It is good for the staff, the loyal customer base and the producers, many of whom have been close to the business since the beginning. The team is well-placed to take the business forward and build on the success they have already created.”
Meanwhile Whiteley stressed it was “business as usual with the same challenges ahead of us as we faced yesterday.” He continued: “The strength of our business has always been its talented, hard working and dedicated people who are passionate about the wines we sell and the customers we have the privilege to supply.
“We have had an amazing time working as a team with Paul and Peter and have seen huge changes within our industry but our values and working philosophy have remained the same and will continue to do so.”