AAC Capital in wine distribution add-on

The team formerly known as ABN AMRO Capital has led Baarmsa Wine Group through its first add-on acquisition. The wine distribution company has purchased Armit, a fine-wine distributor based in London, as it brings its buy-and-build strategy to the UK.

Baarsma Wine Group, an AAC Capital portfolio company, has acquired Armit, a London-based fine wine distributor with annual revenues of €31 million ($44 million). Armit’s management also participated, though financial details were not disclosed.

Part of AAC’s buy-and-build strategy for Baarsma, the acquisition is the first of a number it intends to make in the UK, according to a statement.

Baarsma was acquired in February 2007 by AAC, when it was still ABN AMRO Capital.

ABN AMRO Capital spun out of the Dutch bank in September 2007 following its takeover by a consortium led by RBS.

AAC recently acquired Tylö Group, a manufacturer of saunas, from its Swedish family owners for an undisclosed sum.

The firm has funds totalling €2.6 billion under management. AAC targets management buyouts and buy-ins of profitable Northern European companies in the industrial, services and consumer sectors, typically valued between €50 million and €500 million.