Explorer Investments buys a majority stake in Grestel
Grestel manufactures tableware, serving accessories and ovenware made from the finest natural resources in Portugal, and using its formula for high-fired stoneware.
In 2013, the company recorded a turnover of nearly €11m. In the same period the international market represented 98% of turnover, and the company recorded sales in more than 35 countries. The main export market is the United States, representing approximately 69% of turnover; purchasing around of the 4 million products produced annually by Grestel.
Grestel products are present in some important markets, and used or sold by household names including: chef José Avillez in Portugal; National Geographic Café all over the world; Williams-Sonoma and Crate & Barrel in the USA and at least in five stores on 5th Avenue in New York.
Clearwater International was invited to advised one of the shareholders on the sale of his stake to a local Private Equity firm Explorer Investments.