Bryan Garnier & Co leads €15 million IPO of the first internet up-market wines retailer on Alternext, Euronext’s alternative investment market

Share the transaction

PARIS – 2 January 2007, – Bryan, Garnier & Co (“Bryan Garnier”), the independent pan-European investment bank focused on European growth companies, today announces the closing of a €15 million capital raising of common stock for 1855 (Euronext: AL185). Bryan Garnier was Listing Sponsor and Sole Book-runner on this transaction.

1855 completes an initial public offering (IPO) on the tailor-made market for emerging companies Alternext, Euronext’s alternative investment market, through a direct trading procedure on 22 December 2006.

Representing one of the largest IPOs through a privately placed book-building on Alternext, the offering consisted of a capital increase of 4,253,573 shares at €3.5 made only to qualified investors. The market capitalisation at IPO will be close to €38.5 million. More than 20 European institutional investors specialising in small and mid caps took part in the offering. These funds will enable the company to consolidate its leading position in the upmarket wine distribution segment in France.

Private equity as well as public offering routes had been evaluated by Bryan Garnier through a dual track process involving first tier international private equity funds on the one hand and institutional investors specialising in public small caps on the second hand.

The level of preparation from the management team at 1855 combined with the experience of Bryan Garnier in both private equity and public equity capital markets have enabled the company to benefit from alternative options. The capital market route has finally been chosen to preserve the independence of the company at this stage of development.

Greg Revenu, Managing Director and head of Corporate Finance at Bryan Garnier said, “The direct quotation technique is a very efficient option as an alternative to later stage and Pre-IPO development capital rounds. The level of preparation required by private equity investors set high standards within the companies which are well prepared to a listing”.

Emeric Sauty de Chalon, CEO of 1855 stated, “Bryan Garnier’s expertise and high level of commitment has been critical in the success of the placement. This continuous commitment of highly experienced senior bankers and partners of the firm at each stage of this process combined with their knowledge of private placements and private equity, as well as the breadth of their institutional investor base in Europe, has contributed to offer optimal financing options to the company. Bryan Garnier’s depth of expertise coupled with their entrepreneurial boutiquelevel attention served our objectives.”

The legal advisor was Fried, Frank, Harris, Shriver & Jacobson LLP.

For more information, please contact:

Mani Pillai / Stefanie Schneider : Penrose Financial + 44 20 7786 4888

Bryan, Garnier & Co Limited : Corporate Finance

About 1855 (www.1855.com)

Founded in 1995 in Paris by two entrepreneurs 1855’s ambition is to build the first leading global brand for upmarket wine distribution, to become in the world of wine what Hermes is to fashion and luggage. 1855 proposes to wine amateurs the largest choice of wines in the world, with over 15,000 references of wine available and a database of over 100,000 references.

Privacy Preference Center