International Wine Associates in Europe - Bulgaria, Italy and Spain

The EBRD engaged IWA to provide due diligence services and an independent assessment and review of the feasibility and projections presented to the Bank by Domaine Boyar for a project that consisted of providing US$ 61.5 million of debt and equity financing for :

- The privatization and modernization of two privatized Bulgarian wineries, Vinprom Shumen and Vinis Yambol.
- The building of a new wine production plant in Sliven
Over the last fifteen years Bulgaria has developed into the sixth-largest wine exporter in the world in volume terms. Domaine Boyar was founded in 1991 and has grown into the largest exporter of Bulgarian wines to Western Europe with annual sales of over 5 million cases.
IWA provided a complete due diligence report to the EBRD that covered all aspects of the Domaine Boyar business : market; grape supply, raw materials & inventory management; management structure; technical due diligence; winemaking & quality assessment; financial risks & sensitivities; and recommendations.
- The EBRD was established in 1991 following the collapse of communism, to aid in the transition from centrally planned to market economies in central and Eastern Europe and the CIS. The EBRD is owned by 60 shareholders in 58 countries, the European Investment Bank and the European Community and operates with ECU 20 billion in authorized capital.

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2001 - 2003 Calatrasi - Italy

Casa Vinicola Calatrasi, located in Sicily, is owned by Maurizio Micciche. The Micciche family has been making wine in Sicily for 150 years. IWA was retained to assist Calatrasi in various areas of their business.

In 1997, Calatrasi and BRL Hardy created the joint venture brand "D'istinto". The brand was successfully launched in the United Kingdom, and in 2001 had grown to 250,000 cases. In 2001, Calatrasi bought out BRL Hardy's interest in D'istinto. IWA was instrumental in setting up an agreement for Calatrasi in the United Kingdom with Matthew Clark.

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argentinalogo

1999 - 2001 - Masi Agricola, Italy

IWA was retained by the Boscaini family who own Masi Agricola in Verona, one of Italy's leading premium wine producers, to structure a joint-venture company in Argentina. Masi has planted a 200 + acre vineyard in Tupungato. The company will produce a unique Argentine red wine that will be introduced to the world market in 2004.

IWA was responsible for managing the following aspects of the project :

- Negotiation of the agreement between Masi and Argentine production partner;
- Development of the company business and marketing plans;
- Start-up management of the local company.

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1990 - 1993 - Bodegas AGE (the largest exporter of Rioja wines and a division of Bodegas & Bebidas) - Spain

Bodegas AGE retained IWA after Guinness (Diageo) sold the company to a Spanish bank in early 1991. The Guinness U.S. distribution subsidiary terminated the AGE import contract and at the time IWA was hired, AGE's U.S. sales had declined to 65,000 cases.
IWA was retained by AGE to manage the selection of and transition to a new importer and to manage their ongoing U.S. business. This involved developing a strategy and screening importers, negotiating a distribution contract and developing the marketing plans to reintroduce the AGE brands with the new importer. Under IWA's management, sales grew to 110,000 cases by 1993. IWA helped AGE hire a full-time U.S. market manager at the conclusion of the agreement.

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