Purcari Wineries Moves to Consolidate Dealu Mare Region with Bid for Rival Serve Ceptura
In a strategic push to consolidate its position in one of Romania's premier wine-growing areas, Purcari Wineries has made a binding offer for full acquisition of local rival Serve Ceptura. The deal, financial terms of which remain undisclosed, would mark a significant expansion for the Moldova-headquartered group.
If successful, the acquisition would add approximately 60 hectares of vineyards in the Dealu Mare region to Purcari's portfolio, boosting its total footprint by a substantial margin. The transaction also promises to deliver immediate operational synergies, given the proximity of Serve Ceptura's winery—located a mere 1.5 kilometers from Purcari's existing Crama Ceptura facility.
"This is a natural and strategic step in strengthening our platform in Dealu Mare," said Victor Bostan, founder and CEO of the Bucharest-listed Purcari. "Combining two producers with a deep commitment to authentic, terroir-driven wines, while leveraging our scale and international distribution, will amplify Romania's voice in global wine markets."
Founded in 1994, Serve Ceptura brings established brands like Cuvée Charlotte, Terra Romana, and Vinul Cavalerului into the fold. The winery, based in Ceptura commune within Prahova county, operates full-cycle production facilities with a storage capacity of roughly one million liters and an annual output nearing half a million bottles. The company has also developed a notable export foothold in Canada.
This bid follows a period of significant change for Purcari. Last July, the group was acquired by Polish food and beverage giant Maspex in a deal valuing Purcari at 604 million lei ($136 million). Maspex now holds a 72.5% controlling stake. Subsequently, in December, Victor Bostan returned to the CEO role following the departure of his predecessor.
The group's latest financials show a mixed picture: revenue for the first nine months of 2025 grew 15% year-on-year to 300.6 million lei, but profitability metrics faced pressure. EBITDA saw a slight 1% decline, and net profit fell by 17%, reflecting margin compression amid what the industry sees as a competitive and cost-intensive environment.
Industry Reaction:
"This consolidation is a logical move for Purcari," commented Elena Vasilescu, a wine industry analyst based in Bucharest. "Dealu Mare is a region with immense potential, and achieving scale is crucial for competing internationally. The operational synergies from such close proximity are undeniable."
"It's another small, authentic producer being swallowed up," argued Marko Janković, a sommelier and vocal industry commentator. "Purcari talks about 'authenticity,' but this is purely about market dominance and squeezing out competition. We lose diversity and ultimately, choice, when consolidation like this accelerates."
"From an investment perspective, this is a solid play," noted David Chen, a portfolio manager with a focus on consumer goods. "Post-Maspex acquisition, Purcari is clearly executing on a growth-through-consolidation strategy in its core regions. The short-term margin pressure is a concern, but the long-term value creation from increased market share could be significant."
Purcari, which claims to be among the largest wine groups in Central and Eastern Europe, owns a portfolio that includes Château Purcari and Domeniile Cuza in Moldova, Crama Ceptura in Romania, and Angel’s Estate in Bulgaria. The group also produces brandy via its Bardar distillery in Moldova.