Natural ingredients manufacturer

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


  • Significant customer diversification, with more than 80% of revenues generated abroad


  • Strengthening the management team with several hires from the leading grape-derived products companies in France and US, including the R&D director