Falcon Private Holdings, LLC (Falcon Private Holdings or Falcon), the private investment arm of Jamshid Keynejad and Barry Siadat, announced today that it has closed the acquisition of a controlling interest in the EuroCave Group (EuroCave or the Company), the global leader in premium wine cabinets, from Talis SA (Talis), a French, diversified industrial group. Talis, the owner of EuroCave since 1997, will retain a significant minority ownership position and their active engagement with the Company will continue.
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EuroCave, the French wine cabinet pioneer founded in 1976, designs and produces its wine conservation and storage products exclusively in France. EuroCave generates approximately 30 million of global sales with activity on all relevant continents for more than forty-five years. EuroCave's operations include manufacturing and logistical facilities in the north of France (Fourmies), a headquarters and R&D facility in the south of France (Lyon), and distribution subsidiaries in France, the UK, and Germany. The Company utilizes a portfolio of brands including EuroCave, EuroCave Professional, ArteVino, and Transtherm to offer freestanding and built-in solutions for the consumer and professional channels.
David Walker, chairman of EuroCave and a principal of Falcon Private Holdings, noted: As the leader in the premium segment and the only global business exclusively dedicated to wine preservation, EuroCave is well-positioned to drive household penetration and grow market share. We are excited to join forces with Talis, a like-minded partner who will ensure EuroCave's French heritage remains prominently featured as investment and growth accelerate.
Philip Marxen, a director of EuroCave and a managing director of Falcon Private Holdings, added: EuroCave is an iconic brand, evoking the French art de vivre. Consumption growth and the premiumization of wine are sparking awareness of the importance of proper preservation. We expect EuroCave will continue to lead the migration of wine bottles from refrigerators and racks to purpose-built cabinets and cellars that regulate temperature and humidity while blocking ultraviolet rays and minimizing vibration.