Grupo Peñaflor Owner Acquires Off-piste Wines

Terold Invest, the parent company of Argentine wine powerhouse Grupo Peñaflor, has acquired UK business Off-Piste Wines in a move it says "significantly strengthens its position", db can exclusively reveal. Terold Invest has snapped up UK wholesaler Off-Piste Wines, calling it "a decisive step" in its strategy to scale globally "through high‑growth, brand‑led businesses". Off-Piste sells around 3 million nine-litre cases per year to supermarkets, discount stores, convenience stores, restaurants and hotels, and its portfolio includes the popular wine brand Most Wanted, Malbec wine The Wanderer, Rioja brand Muriel, Italian producer Piccini and a host of New Zealand Sauvignon Blancs (Clear Springs, Marlborough Springs, Whistling Tracks).

Tactical win

According to Terold Invest, the move comes in response to the UK being "a critical engine for innovation and category leadership". Therefore, owning UK company Off-Piste, which has a reputation for being able to "spot and scale trends ahead of the market", is a tactical win. “This is a highly strategic acquisition," said Gustavo Sampavo, CEO of Terold Invest. "Off-Piste Wines has built an exceptional business in the UK, combining commercial strength with a clear track record of innovation. Together, we see significant opportunity to accelerate growth, expand our brand footprint, and shape the future of the wine category across key global markets.” The global company resulting from the merger will see Terold's total volumes in Europe surpass  5m cases annually. By combining the "brand development expertise and distribution network" of Off-Piste Wines with the "global scale and sourcing capabilities" of Terold Invest, Sampavo added that the group, owned by the Bemberg family, is now uniquely positioned to "unlock significant growth opportunities". A key benefit for Terold is that Off-Piste currently buys wine from more than 10 countries and bottles it in the UK, which enables "exceptional speed to market" across all formats and price segments.

Off-Piste is "more than doubling" its portfolio

Off Piste's UK managing director, Andy Talbot, will remain at the helm of the business following the acquisition. Speaking exclusively to db he said that as a result of the merger "we are roughly doubling our portfolio of wines and adding great brands like Trapiche and Bread & Butter to consolidate one strong combined portfolio". The buy-out also puts the consolidated business firmly into the "top-5 suppliers to the UK off trade," Talbot said. Furthermore, he added, "it gives us the advantage of being a producer-led business which feels very relevant in the current trading environment".

"Weak where they were strong"

Presumably, Terold Invest will be able to calm some of the operational challenges that Off-Piste currently has to contend with? "The two portfolios fit together well. We were weak where they were strong and vice versa," Talbot said. But ultimately, whereas Off-Piste is present in about 15 markets, "Terold has access to more than 100, and in many instances they work with the biggest distributor in each market," he confirmed. "We anticipate this will allow our brands to grow at a much faster rate than we could achieve by ourselves." According to Talbot, the priority for the rest of 2026, is to "integrate the companies and portfolios. We'll start picking off the easy wins while doing a lot of work in the background to get everything ready to achieve the goals we have set together for the combined business". It is, he said, "a really exciting time for everyone involved and after 20 years of Off-Piste we have found the perfect partner for the next 20 years and more".

Who's in the new group?

Prior to the acquisition, Terold Invest already owned Argentina's Grupo Peñaflor, which produces globally recognised brands such as Trapiche and Finca Las Moras. Since 2021 Terold has also controlled California-based contract producer and bottler WX Brands, best-known for its California wine label Bread & Butter. With the tagline "don't overthink it", Bread and Butter's mission statement states: "The world of wine has gotten a little carried away. Between the pressure to swirl, sniff, sip, and spit the right way, some wine drinkers get lost in (and scared of) outdated rituals. At Bread & Butter, we haven’t... So relax, sip, and enjoy...And whatever you do, don’t overthink it". WX also looks after a host of other Californian wine brands including Chronic Cellars, True Myth, Reata, and Baileyana (named after the Acacia Baileyana tree that is abundant throughout the state's Central Coast). Terold is the investment vehicle for the Bemberg Family Group, a South American company with multiple interests in the drinks industry.