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Confirmed Amount = 200.000 €
Reserved Amount = 0 €

200.000 €

Reserved

Fitapreta

Location Pin Svg
Évora, PT

instalment

quarterly

term

6 years

a year

6.1%

rating

B-

Renovation of a courtyard and cellar in a medieval palace.

Description

Fitapreta is an Alentejo wine producer whose mission is to recover and rehabilitate old vineyards, abandoned grape varieties, and heritage. 

In 2016 Fitapreta Vinhos bought the Paço do Morgado de Oliveira - an architecturally imposing building dating from 1306 that required intensive restoration work.  

Over the last eight years, the promoter has been renewing the Paço, and discovering medieval frescoes, doors, and wine and olive oil presses. The process has involved research teams in the fields of history, art, and archaeology who are gradually trying to restore a piece of Alentejo's material heritage. 

This campaign aims to fund a sustainability-focused renovation of the building's exterior areas and a cellar where a wine press was discovered. Research shows evidence that wine has been made in the palace for 770 years, and the plan is to continue its production.

The renovation of the Paço is in its final stages and the funds raised will be used to renovate the Patio and the wine press cellar to increase the wine tourism capacity:

  • The Patio is a cloister-like space with porches that will allow events for up to 200 people, with the support of a small kitchen.
  • The cellar room is an area of the Paço where a 14th-century press was discovered and will be restored.

See the before and after below: 

The Impact

Direct 

  • Recovery and protection of cultural and historical heritage: Fitapreta is restoring 1000m2 of a building dating back to the year 1306, consisting of a chapel, an old wine press room, and the first floor. The building is located in the Alentejo region of Portugal, in the city of Évora, and was unused and degraded for the last decades and its rehabilitation will cost around 1.5M Euro. The restoration involved a team of specialists from history, arts, and archaeology since it included the recovery of frescos inside the chapel and the old wine press room from the XIV century. The renovation includes installing basic infrastructure such as electricity, water, sewage, and climatization.
    The restoration works will originate a book about the history associated with the building and its importance to the region in the centuries past.  
  • Improve resource use efficiency in consumption and productionthe renovation works were based on environmental sustainability, choosing efficient materials, equipment, and local suppliers. Doors and windows will be replaced, and high-density insulation was installed as energy savings measures in a region with a high-temperature variation. Locally produced clay tiles were installed, made of natural materials that maintain the region's cultural identity and perform well for thermal and acoustic comfort. All equipment is highly efficient, the lighting with LED lamps, with movement and programmed sensors to avoid waste.
    The water used in the building comes from a natural source and is treated and heated through a heat pump – the most efficient and sustainable method available.  

Indirect 

  • Promotion of organic production and sustainable land use: Fitapreta’s mode of production is certified organic – the vineyards have no irrigation, and respect the land’s orography, and original landscape. This way, the result is an agroforest in which the vineyard coexists with other native plants, potentializing biodiversity and water conservation on the ground.
    The promoter is also certified in a sustainable wines program from the region – the PSVA (Program for Alentejo’s Wines Sustainability), which envisions the improvement of the environmental, social, and economic performance of the wine producers in the Alentejo region. 
  • Promote sustainable tourism and growth decoupled from degradation: Fitapreta will use the recovered building and area for wine-related training and education and wine tourism, creating jobs and economic opportunities for local companies and valuing regional products. All while taking visitors through the region and the country’s history. 

Sustainable Development Goals

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Financial viability

This loan will enable Fitapreta to develop its wine tourism activity, increasing capacity for larger events, particularly weddings. An annual turnover of €300,000 is expected, with an estimated margin of 35%, allowing the promoter to generate over €100,000 annually and pay principal and interest over six years.

Download Financial Statements for the Promoter here: Financial Statements Fitapreta, SA.pdf

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Download Key Investment Information Sheet

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Guarantees

Loans granted to the promoter FITA PRETA, VINHOS, S.A. by investors will have the following guarantees, provided for in the loan agreements associated with the campaign:

  • Mortgage of two real estate assets in Ilha do Pico, property of the group company Azores Wine Company, LDA (company partially owned by the same owner as Fitapreta, SA, António Maçanita) under the matrixes 807 and 665 of the registration document, valued at 290.000€.

The Promoter

About FITA PRETA, VINHOS, S.A.

Fitapreta was founded in 2004 by winemakers António Maçanita and David Booth. Today it is owned by António Maçanita, Sandra Sárria, and the company Dommelhof. It has 51 full-time employees and is based in Paço do Morgado de Oliveira, located in the municipality of Évora, in the south of Portugal.

The promoter's entire vineyard produces organic grapes, but their environmental concerns go well beyond agriculture and Fitapreta holds several sustainability certificates. All the vineyards are rainfed (without an irrigation system). For this reason, strategies to conserve water in the soil and minimize the impact on ecosystems are extremely important. 

The winery is also eco-efficient, designed to work using gravity. The infrastructure is covered in cork (a natural local element, that boosts thermal efficiency), and has around 40 skylights (which reduce the need to use energy for lighting).

Fitapreta is committed to continuously implementing sustainability-focused practices and promoting different forms of material and intangible heritage, such as old vines through the recovery of native grape varieties. A good example was the work to restore "Chão dos Eremitas" - a vineyard with unique characteristics in the Alentejo, over 50 years old and covering around 30 hectares that bring us wines made from unique varieties such as Tinta Carvalha, Trincadeira das Pratas, Moreto and Alicante Branco. 

Among various awards, António Maçanita won the Portuguese prize Winemaker of the Year and the Singularidade award in 2018. Fitapreta Vinhos company was also awarded Producer of the Year in Portugal in 2020.

The team

António Maçanita

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Founder and CEO

Sandra Sárria

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Partner & General Manager

Alexandra Leroy

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Wine Tourism Director

Leonor Frazão

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Vineyard Manager

Patrícia Nunes

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Winemaker

Business Model

Fitapreta is a wine company whose main activities are wine production, wine marketing, and wine tourism activities.

The wines are positioned in a medium to high segment and are sold in around 30 countries on 4 continents. The business model is based on selling to distributors and importers for distribution in the Horeca channel. The company also manages an online store and a physical shop (located in the winery) which diversify sources of revenue.

In 2023, the company made a turnover of 4.3 million euros, 3.2 million in B2B wine sales (to companies and intermediaries), and 100k in B2C (directly to the end customer). In addition, since 2021, wine tourism has become an important activity for Fitapreta, accounting for around 750k in 2023.

As a company founded with its founder's capital, and initially, without owning vineyards or a winery, Fitapreta has grown significantly in the last 20 years. The company is now a nationally and internationally recognized brand as a leading Portuguese producer of distinctive, quality wines.

Active since

2004

Fiscal country

PT

Operating In

Portugal

Industry

Wines

Women Shareholders

Yes

Updates

2024-05-02

Open for investment

This campaign is open for investment

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