Press release
Vinci Capital Partners Strategy Announces Investment in Evino, the Largest Omnichannel Wine Retailer in Brazil
RIO DE JANEIRO, Brazil, March 07, 2022 (GLOBE NEWSWIRE) -- Vinci Partners Investments Ltd. (NASDAQ: VINP) (“Vinci Partners”, “we”, “us” or “our”), the
About this update from Vinci Compass Investments Ltd.
[{"type":"text","content":"RIO DE JANEIRO, Brazil, March 07, 2022 (GLOBE NEWSWIRE) -- Vinci Partners Investments Ltd. (NASDAQ: VINP) (“Vinci Partners”, “we”, “us” or “our”), the controlling company of a leading alternative investment platform in Brazil, announced today that “Vinci Capital Partners III”, or “VCP III” (“the Fund”), the family of funds managed by Vinci Partners’ Private Equity strategy, has entered into a definite agreement for a new investment round in Evino (“the Company”), the largest omnichannel specialty wine retailer in Brazil. This transaction marks VCP III’s seventh and final investment. The Fund was marked at a 56.8% gross IRR in BRL and 36.7% in USD at the end of the third quarter of 2021. The Company currently operates under two of the most relevant brands in the space - Evino and Grand Cru. Evino, which directs most of the Company’s digital B2C strategy through its online platform and mobile application, is the largest wine e-retailer in Brazil. Grand Cru, which accounts for the Company’s physical B2C (with 119 specialty stores, mostly franchised), B2B and subscription club businesses, is the most relevant premium wine retailer in Latin America. Evino has recently closed the acquisition of Grand Cru and is currently undergoing an integration process, designed to streamline their combined operations and capture relevant synergies. Gabriel Felzenszwalb, partner and co-head of Private Equity for Vinci Partners, said, “With the acquisition of Grand Cru, Evino combined two of the most relevant and highly complementary players in the wine market, with best-in-class operations in each vertical they specialized. Through VCP III’s investment we have the opportunity to help create the industry leader in a large and growing market. Vinci and the other shareholders of Evino mapped organic and inorganic paths to consolidate the segment, benefiting from scale, an integrated omnichannel offering and synergies between B2C and B2B channels.” “This transaction marks VCP III’s seventh and final investment,” said Carlos Eduardo Martins, partner and co-head of Private Equity for Vinci Partners. “Our third vintage was responsible for interesting investments in diversified, attractive growing markets such as telecom, healthcare, financial services, beauty and personal care, specialty retail and QSR. We are excited to come back with our fourth vintage i...