OREANDA-NEWS. August 15, 2013. The additional investment was announced by Horizon Capital Founding Partner and CEO Natalie A. Jaresko at presence of Premier of Moldova Iurie Leanca and President of Bostavan Wineries Group Victor Bogdan, who visited Vinaria Purcari, part of Vinarii Bostavan , a leader of the winemaking branch of Moldova. In total, Horizon Capital’a investment in Bostavan Wineries Group is said to amount to USD 17.5 million.

Thanks to the investment to be made, 100 jobs are going to be created. Iurie Leanca, Victor Bostan and Natalie A. Jaresko visited Vinaria Purcari’s production facilities and wine vaults. One of the major shareholders in Bostavan Wineries Group is Emerging Europe Growth Fund II (EEGF II), managed by Horizon Capital, leading regional private equity fund manager. The International Finance Corporation (IFC) is also a shareholder.

According to Natalie Jaresko, Bostavan leads efforts to raise market awareness of the Moldovan wine industry. By investing USD 2.7 million, Horizon Capital is committed to support Bostavan and strengthen its leadership in key regional markets. Moldovan wines in the region, she said, are becoming an excellent alternative to the distant wines from the Southern hemisphere or pricy Old World wines. Natalie Jaresko was pleased to note that the government of Moldova favours investments and aims to make Moldova a prosperous country. Iurie Leanca welcomed the additional investment announced by the company and said it proves that the Republic of Moldova can offer opportunities for development. Victor Bostan, Founder and President of Bostavan Group thanked shareholders of the company for constant support to Bostavan’s expansion.

According to him, in 2012, Bostavan Wineries Group reported the growth by 25% and is on track to grow by more than 20% this year. The company remains committed to its ambitious target to reach USD 50 million in sales and USD 15 million in EBITDA by 2015. According to him, Horizon Capital’s new investments in Bostavan Wineries Group are going to be spent to purchase the modern grape-processing and wine-storage equipment. Some of the money is meant to develop the sales area. At present, Bostavan Wineries Group’s production capacity amounts to 1 million of bottles of wine a year. Bostavan Wineries Group is a leader of the wine-making branch of Moldova.

The Group boasts state-of-the art production facilities and has over 800 hectares of vineyards. It owns some of the most well-known Moldovan wine brands: Negru de Purcari and Rosu de Purcari. Bostavan Wineries Group is one of the best known Moldovan exporters with an impressive international distribution network throughout over 20 countries of Central and Eastern Europe, including Romania, Poland, the Czech republic, Baltic States, as well as Ukraine, Russia and other parts of the former Soviet Union.

Horizon Capitalis is a private equity fund manager that manages investments in mid-cap companies with outstanding growth and profit potential in Ukraine, Belarus and the region. Currently, Horizon Capital manages three funds, Emerging Europe Growth Fund II (EEGF II), Emerging Europe Growth Fund (EEGF) and Western NIS Enterprise Fund (WNISEF), with over USD 600 million under management.

In June, 2010, Horizon Capital announced purchase of the controlling interest in Bostavan Wineries for USD 15 million. Bostavan Wineries Group is a leading Moldovan group of wineries. It owns the following companies: Vinaria Bostavan - a Moldovan winery, with 2 main production facilities – Onesti site (Central region of Moldova), specialized in white wines and Etulia site (Southern region of Moldova), specialized in red wines. Vinaria Bostavan specializes in the production and sales of medium and upper medium segment wines. Crama Ceptura – a Romanian winery and estate, located in the Prahova region, famous for its wines.

It specializes in the medium and upper medium product segment. It is also used as the “gateway” of other products of the group to the Romanian market. Bardar - a Moldovan brandy (cognac) producer. Purcari is the undisputed leader among Moldovan wineries in terms of quality and brand awareness. It produces and sells only super-premium and premium wines.