Stockport based BOUTINOT, the privately-owned wine importer, producer and distributor, has been sold in a management buyout led by managing director Dennis Whiteley and fellow commercial director Michael Moriarty along with master of wine Tony Brown.
Boutinot currently employs 80 staff and has annual sales of £95m. Although the value of the sale has not been disclosed, it has been financed with a facility through Barclays Bank with additional funding from the new management team and Italian business partner Araldica Castelvero .
Paul Boutinot, who founded the Gatley-based business in 1980, will now step down to focus on Waterkloof, a wine farm he has created in South Africa; Peter Renshaw, Boutinot’s chairman for the last 10 years, is also retiring and Claudio Manera, general manager of Araldica, is replacing him as non-executive chairman.
As well as France, Boutinot has businesses in the US and South Africa and a joint venture in Italy. It was set up to source wines for Mr Boutinot’s parents’ restaurant in Heald Green. It now has a portfolio of more than 800 wines.
Boutinot was originally established to source wines for Mr Boutinot’s parents’ restaurant in Heald Green. It now has a portfolio of more than 800 wines.
Mr Whiteley said: “Quite simply, it is business as usual with the same challenges ahead of us as we faced yesterday.
“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.”
Boutinot sells more than 1,000 varieties of wine and is the exclusive UK agent to 150 producers from around the world It supplies UK retail giants including Tesco, Sainsbury’s, Marks & Spencer and Waitrose as well as independent shops and restaurants.