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Wine closure firm Nomacorc bought out by founder and Bespoke Capital

Published:  12 January, 2015

Synthetic wine closure firm Nomacorc is set for long-term growth after being bought out from Summit Parnetrs by its current founder and chairman Marc Noël along with Bespoke Capital.

Synthetic wine closure firm Nomacorc is set for long-term growth after being bought out from Summit Parnetrs by its current founder and chairman Marc Noël along with Bespoke Capital.

The new owners plan to invest more heavily in Nomacorc's long-term growth plan and expand its brand, infrastructure and overall global presence following the deal.

NomacorcNomacorc has been bought out by its founder along with Bespoke Capital Partners

The group plans to ramp up its research and development on closures and oxygen management in order to "drive global growth as well as help the company capitalise on the large long-term opportunity to consolidate certain attractive segments of the global wine supply industry"

Mark Harms, co-managing partner of Bespoke said: "We invested in Nomacorc as a platform for consolidation of the highly fragmented supply chain in the US$250 billion global wine industry. We look forward to supporting the management team in executing a growth strategy to increase the types of products and services offered to the wine industry thereby leveraging and enhancing the company's already formidable distribution capabilities." 

Noël said: "Bespoke's model is very attractive to entrepreneurs like myself who are looking for a thoughtful partner and structured capital solution that enables us to accelerate value creation and focus our efforts on the truly long-term potential of the enterprise. We are also pleased that Ken Lamb, an expert in the wine sector, has joined the Nomacorc Board and will be actively involved with our organisation going forward."

Nomacorc has a patented co-extrusion process which it says allows for predictable oxygen management and protection against oxidation with its synthetic corks. It employs almost 500 people globally in manufacturing facilities in the United States, Belgium, China and Argentina. It produces more than 2 billion closures annually.

Bespoke Capital Partners is a private equity firm formed last year by Rob Berner and Mark Harms. It is seeking to invest in consumer, leisure and related sectors both in the US and Europe. Nomacorc is the second transaction that Bespoke and its affiliates have initiated in the last eight months, following its parent company's investment in 24 Hour Fitness in May 2014. Bespoke and its affiliated entities have now invested in excess of $250 million in support of its tailored private equity strategy. 

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