Toorank owner sells majority stake to management team
Owner Toon Blij has sold his majority stake in Sloane’s Gin producer Toorank following a “management buyout”.
Toon Blij has owned Toorank since 1990Described as a “new era” for the company, Blij sold his stake in the Dutch firm to Toorank CEO Natal da Graça and CCO Henny Tadema.
The sale follows Blij’s retirement from the Toorank board. He also retired from his role as CEO of the company in October 2017.
Blij bought Toorank from Metaxa in 1990, with the business currently trading in 50 markets worldwide.
The new owners will look to “fine-tune and emphasise” its position in spirits and alcoholic beverages, which includes more than 300 challenger, third-party, and private label brands.
There will also be “further investment” across the company’s portfolio, including a new design for Coppa Cocktails.
Da Graça, who has been CEO since January 2018, will remain responsible for the operational side of the business.
He said: “Toorank is an international company with a family heritage, Henny and myself see ourselves as the next generation taking over from Toon who’s built a commendable legacy.
“Toorank has seen times of change over the last couple of years but we are now steadier than ever. We continue building on its 40 years’ experience and I am very impressed with the quality and competence of our team.
“Henny is an industry veteran bringing solid experience from Heineken, Seagram’s and Red Bull, we share the same values and vision for Toorank and are ready to confidently lead it into its next chapter.”
Tadema added: “We’ve been preparing for this management buyout for some time and the response from customers who have known has been reassuringly encouraging.”
