This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
News
L-Gam takes majority stake in wine closures company Vinventions
Luxembourg-based investment fund L-Gam has taken a majority stake in wine closures manufacturer Vinventions.
It was announced last week that the owners of Vinventions, the Noël Group and Bespoke Capital Partners, had entered into exclusive negotiations with L-Gam.
As part of the agreement, L-Gam will buy Bespoke Capital Parntners’ share of the business, and also “commit significant resources” alongside fellow investor Noël Group.
The deal is expected to be finalised in the coming month.
Marc Noël, founder and chairman of Vinventions and chairman of the Noël Group, will also be stepping down from his role at the closures firm, passing the reins to Patrick Mathieu, who is the current president and CEO of industrial foam maker Armacell.
It has been confirmed that Denis Van Roey will continue in the role of CEO of Vinventions.
Marc Noël, who founded Vinventions in 1999, said: “I would like to thank Denis Van Roey and the whole Vinventions team for their outstanding work over the years. This transaction is clear testament to the significant operational and strategic successes they have achieved.
“I am also delighted to hand over the chairmanship to Patrick Mathieu and welcome him in the group – his experience will be a strong added value for the board. This new chapter for Vinventions is particularly exciting and we look forward to our partnership with L-Gam to accelerate the development of the group.”
According to Vinventions, every seventh bottle of wine sold around the world is secured with one of its closures. Its brands include eco-friendly synthetic closures Nomacorc and Syntek, screwcaps Vintop and Alplast, ‘micro-natural’ closures SÜBR, and natural corks Ohlinger.
Mark Harms, partner at Bespoke Capital Partners added: “We are pleased to have reached agreement to sell our stake in Vinventions to L-Gam and Noël Group. Marc Noël and his team have been excellent partners for the past six years and we appreciate the relationships that we have built. We thank the management, in particular Denis Van Roey, for working hard to transform the business during the tenure of our ownership and manage through a combination of industry and pandemic related headwinds, particularly affecting the sub $10 wine category.
“During our investment period, Vinventions has cemented its position as the market leader in the provision of environmentally friendly natural cork alternative wine closures, expanded its product portfolio to include screwcaps, increased its presence in the premium segment of the wine market that is enjoying strong growth and began the supply chain consolidation thesis that we invested behind. We wish Marc and his partners and L-GAM the best of luck in continuing the company’s growth.”
According to a statement, L-Gam’s investment will help the Vinventions management team implement “an ambitious organic and external growth roadmap” in order to render Vinventions a “leading supplier of products and services for the wine industry”.
Denis Van Roey, CEO of Vinventions, continued: “This transaction offers a unique opportunity for our team to partner with L-Gam and Patrick Mathieu, highly experienced professionals who will support, together with our historic and faithful partners, an ambitious growth strategy, built around our culture of innovation, sustainability and performance, while staying true to our company values.”
Yves Alexandre and Jérôme Bertrand, partners at L-Gam, said they were “delighted” to be working with Vinventions and had been impressed by both its growth trajectory and resilience.
“We believe Vinventions’ industry-leading product range and track record for disruptive, environmentally friendly innovations provide strong foundations for growth in the years ahead,” they said. “L-Gam shares the corporate values of Noël Group and we look forward to partnering with them to support Vinventions ambitions and seize external growth opportunities.”
Read more: