Natural ingredients manufacturer
Type of transaction
Minority with control
Invested capital
30 M€
Investment date
2017
Exit date
2021
100% circular economy business model
Specialized in transforming viticulture by-products into high value-added and sustainable natural ingredients.
Diversified and traceable product portfolio: natural grape alcohols, natural tartaric acid, grape seed oil, antioxidants, anthocyanin (coloring) and second generation bioethanol (advanced biofuels).
Investment thesis
Leading global player with limited competition in a very fragmented market
High entry barriers due to proprietary R&D know-how and state-of-the-art grape-processing facilites located in the largest wine-making region worldwide
Strong EBITDA margins and outstanding and proven cash-flow generation capacity
Opportunity to improve strategic position by developing a new division of high value-added products and strengthening its ESG commitments
Value added
Strategic repositioning
- Repositioned Alvinesa from a traditional distillery into a leading natural ingredients player and circular economy champion
- Development of high added value ingredients product line
Diversification
- Significant customer diversification, with more than 80% of revenues generated abroad
Organization
- Strengthening the management team with several hires from the leading grape-derived products companies in France and US, including the R&D director
