Boutinot, a UK-based international wine business with a portfolio of over 800 wines, has been purchased by its management team for an undisclosed amount.
The team comprised Boutinot managing director Dennis Whiteley, commercial director Michael Moriarty and master of wine Tony Brown.
Established in 1980, the business has a turnover of £95m and serves as an exclusive agent to 150 producers across the globe. Besides owning wineries in both the northern and southern hemispheres, the company supplies wines to UK and international retailers, restaurateurs and wholesalers.
Following the buyout, Boutinot founder Paul Boutinot plans to step down and concentrate on Waterkloof, a biodynamic wine farm created by him in South Africa.
Boutinot said he was happy for the business to be taken over by a team he knew well.
"It is good for the staff, the loyal customer base and the producers, many of whom have been close to the business since the beginning," Boutinet added.
"The team is well placed to take the business forward and build on the success they have already created."
The Boutinot deal was supported by its Piedmont-based supplier and wine cooperative - Barclays Bank and Araldica Castelvero.
