Jean-Noël Reynoud, the globetrotting French manager who has just bought the small winery of vermouths and liqueurs Perucchi, is dazzled by the story of Tito's, the Texan vodka manufacturer that in just 15 years has become the leader in its segment in USA. "They are very new, no one knew about them, but with work and doing things very well they have been able to conquer the market," he explains. This is an inspiring example for Perucchi. With barely 20 workers and a few million euros in turnover, the Badalona firm is considered to be the first vermouth to be produced in Spain, although many people are unaware of it and its potential is yet to be exploited.
Reynoud, 55, has started with Perucchi as the cornerstone of a group that was initially European for liqueurs and spirits that, based on small and almost artisanal brands, gave rise to a new multinational in the sector. "Now what is local, produced locally is preferred before even what is organic and we find that there are authentic jewels, with fantastic DNA, that have neither the structure nor the financial means to compete and that suffer a lot to survive", he says.
The group that Reynoud is forming presents itself as a solution for these companies. The manager has the knowledge acquired in a career of more than 30 years in France, Latin America, the Caribbean, Asia and Eastern Europe in brands of the sector, such as Remy Cointreau, Coca-Cola, Lactalis and Marie Brizard, among others. In the latter, he became CEO after his bankruptcy and managed to refloat it in record time. "They gave us seven years to turn it around and we did it in two," he recalls, which earned him the recognition of the judicial authority.
After this experience, he saw the moment to undertake, with a first idea of the exploitation of cannabis for therapeutic use. He soon dismissed it and eventually, surrounded by other investors and friends, he settled in Barcelona and created Magellan.
The only requirement to study a purchase is that they are excellent niche companies, well-established locally and, often, family capital. "Small is wonderful," she repeats endlessly. The goal is that in six or seven years, the new group will be established in Spain, Portugal, France, Italy and Switzerland and will invoice around 200 million euros, with a gross operating profit (ebitda) of 15% of sales. This business, he assures, is highly profitable and has the advantage that it is in full growth, unlike others.
For Reynoud, with his grown children in France and at the start of a new life, Barcelona is non-negotiable. Although Magellan
