ISIS takes majority stake in leading wine distributor

ISIS Equity Partners ("ISIS") has taken a majority stake in Enotria Holdings Limited ("Enotria"), a leading distributor of wine, based in Park Royal, London.

ISIS has invested £8.2m as part of the transaction alongside senior debt and working capital facilities from HSBC Bank plc ("HSBC").

Enotria supplies both the on- and off-trade markets with wines from Europe and the New World. Customers range from Sainsbury to Strada and Gordon Ramsay. It has in excess of 1,200 mid to premium priced wines in its portfolio.

The business was founded in 1972 by Remo Nardone and has grown consistently ever since. Today, Enotria is highly regarded as one of the UK's top suppliers through a combination of exceptional product knowledge, breadth of range and outstanding customer service.

ISIS has backed the existing management team and introduced Clive Beharrell (formerly Chairman of Fat Face) as Chairman, and Peter Sheridan (ex Allied Domeq) as Finance Director. Nardone will retain a minority stake in the business.

Nardone commented: ‘This is an exciting development in the next stage of the business with many new initiatives being planned. This evolution has been my preferred route as it ensures continuity and stability to take Enotria into an even greater and successful future'.

Paul Morris, Daniel Smith and Shani Zindel led the investment for ISIS. Shani Zindel and Mark Turner will represent ISIS on the Board. Debt funding was provided by HSBC represented by Ian Crompton.

The transaction was initiated by ISIS who approached Nardone directly in February 2005 following a review of the UK wine distribution market.

Published: 04 January, 2006