Tinna Trade completes acquisition of Fratelli Wines, ushering in a new era of winemaking; assumes new identity as Fratelli Vineyards
New Delhi (India), August 7: Tinna Trade announces the acquisition of Fratelli Wines, one of India’s leading names in winemaking. This strategic move, involving the issuance of 3,07,79,184 shares* of Tinna Trade Ltd. to Fratelli Wines’ shareholders, marks the beginning of an exciting journey as Fratelli Wines becomes a 100% subsidiary of Tinna Trade.
Reflecting its new focus and vision, Tinna Trade has rechristened itself as Fratelli Vineyards Ltd., upon completion of the requisite statutory & regulatory processes.
Fratelli Vineyards reported impressive net revenue of Rs. 215.6 crore and an EBITDA of Rs. 28.6 crore for the year ending March 31, 2024 and 70% of its revenues is derived from its premium offerings. This acquisition is a significant milestone, positioning Fratelli Vineyards for unprecedented growth and expansion.
Commenting on the occasion, Mr. Gaurav Sekhri, Managing Director Tinna Trade said, “We are delighted to reimagine Tinna Trade as Fratelli Vineyards (Fratelli). We have been building our vineyards, brands and a unique integrated ‘grapes to bottle’ model, since the year 2007. Today the business is at a stage where it is poised for strong and sustained expansion with an attractive portfolio of brands. As a focused entity, Fratelli 2.0 is getting future ready. Being listed creates an opportunity for the shareholders to participate in the value creation journey backed by our strong experience in the lifestyle/business of wine.
Fratelli is one of India’s finest winemakers, having in its repertoire multi-feted brands like J’Noon & Sette, which are India’s first luxury wines and category leaders. Since inception as a family-backed vineyard, Fratelli has made significant strides in growing its business, creating an indelible mark in minds of oenophiles and premium F&B/hospitality brands across the country for the quality of its wine. The business is well-placed to grow robustly with sharp focus on brand development and new product launches.”
Tinna Trade has issued 3,07,79,184 equity shares having face value Rs. 10 to shareholders of Fratelli Wines, at an issue price of Rs. 72 per share, on a preferential basis towards aggregate consideration of ~Rs. 222 crores in accordance with Chapter V of SEBI ICDR regulations and other applicable laws towards the acquisition of 1,23,11,671 equity shares of Fratelli Wines, representing ~97% of the equity of Fratelli Wines.
Crafting the Future of Indian Wine
This share swap was executed in full compliance with regulatory guidelines, underscoring a commitment to integrity and excellence. As part of the strategic plan, Tinna Trade’s current agri. and non-agri. trading operations have been phased out, allowing the company to concentrate on the thriving and lucrative world of winemaking.
About Fratelli Vineyards Ltd
Fratelli Vineyards was launched in 2007 by seven brothers from three families and two countries, united by their passion for quality wine. Fratelli, India’s largest vineyards, combines Italian winemaking with Indian terroir to produce luxury wines that consistently demonstrate the dedication behind their creation. With four state-of-the-art wineries in Maharashtra and Karnataka, Fratelli commands an impressive capacity of 5.6 million litres. This extensive presence in the wine industry is complemented by luxurious hospitality offerings, providing an immersive and unparalleled wine experience.
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