ABN Amro Capital has bought a majority stake in Dutch wine trader Baarsma Wine Group for several tens of millions of euros, buying out ING and Friesland Bank in the process.
Baarsma supplies wine to supermarkets, bars and restaurants and expects turn- over of €175m in its current book year. The Financieele Dagblad says it has 20% of the Dutch wine market.
The deal gives ABN Amro between 50% and 60% of the company. The two directors control 40% and 9.9% has been reserved for management. Baarsma spokesman Cees de Rade said ABN Amro’s involvement will give the company new impetus, particularly in terms of foreign takeovers.
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