Sarment Wine & Spirits Holding, has split with SAIS Holding, a listed company in Canada, and been sold to El Greco International, owned by Paolo Bulgari, chairman of Italian luxury jeweller Bvlgari, the Asia-focused fine wine and spirits merchant has announced.
El Greco International, a subsidiary of El Greco Holding, now controls 74% of Sarment Wine & Spirits’ shares, Sarment announced on September 20 through its official WeChat account.
Members of the Dauphin family control 20% of its shares with other investors controlling the remaining 6%.
The sale came three years after Paolo Bulgari personally acquired shares in the company and was appointed its honorary chairman in 2016.
Bulgari commented, “I am very satisfied with this deal, ad it will allow Sarment to further grow its fine wine and spirits business which is already strong in China and in the eastern hemisphere to consolidate and to focus future efforts and investment in the segment.”
Mario Aron, the CEO of Sarment, says, “The company will do what it does best: distributing fine wines and spirits and serving our clients all across Asia with great labels in the fine and spirits segment following the tradition of excellence of the Bulgari family. I am certain that this will help us capitalise and really grow the business in Asia and possible abroad.”
Earlier this year, another leading wine importer EMW Fine Wines in Greater China sold its shares to Japanese private equity firm, Cool Japan Fund Inc. (CJF), as vino-joy.com reported.
Sarment first entered the market in 2009. Today it operates in China, Singapore, Hong Kong and Tokyo.