Funchal Madeira-wine house founded in 1877 by Henrique Menezes Borges (H. M. Borges, Sucessores Lda, NIF 511002840, Rua 31 de Janeiro 83, 9050-401 Funchal; share capital €795,243.54), run today by the family’s fourth generation from the former cereal mill it moved into in 1924, with the associated export brands Araújo, Henriques & C.ª (1923), J.H. Gonçalves & C.ª (1926), Borges Madeira (1935) and Adega Exportadora de Vinhos da Madeira (1935). Its Vintry’s Madeira Fine, a medium-dry Madeira, has been in Systembolaget’s fixed assortment since 1983 in 75 cl (art. 788201, SEK 179) and 37.5 cl (art. 788202, SEK 119), imported by Anora Sweden AB; the two sizes sold 36,109 litres in Sweden in 2025, level with 2024.
H. M. Borges is one of the historic Madeira houses. Henrique Menezes Borges founded it in 1877 to buy and age island wines, first from premises near the Mercado dos Lavradores in central Funchal that lacked the facilities to export; in 1924 the firm moved to its present building on Rua 31 de Janeiro, a former cereal mill converted for wine ageing whose original architecture it has kept, and from then on operated as a producer and exporter in its own right. The company, H. M. Borges, Sucessores Lda (NIF 511002840, €795,243.54 of share capital, accounts filed every year through 2024), is managed by the fourth generation of the family and carries a set of associated export labels founded between 1923 and 1935: Araújo, Henriques & C.ª, J.H. Gonçalves & C.ª, Borges Madeira and the Adega Exportadora de Vinhos da Madeira.
Its Nordic business is one of the longest-standing Portuguese listings on the Swedish market. Vintry’s Madeira Fine, a medium-dry Madeira bottled for the Swedish trade, entered Systembolaget’s fixed assortment in 1983 according to the monopoly’s product data and is still there in two sizes, 75 cl (art. 788201, SEK 179) and 37.5 cl (art. 788202, SEK 119), imported by Anora Sweden AB, the Swedish arm of the Nordic drinks group Anora. Systembolaget’s 2025 article ledger records 25,252 litres of the full bottle and 10,857 litres of the half bottle, 36,109 litres in total, level with 2024 and about four-fifths of all Madeira the monopoly sold that year.
Madeira is a small category on Nordic shelves but a durable one, and H. M. Borges shows what forty years in a monopoly’s fixed range looks like: a single private-label product, a stable importer and volumes that a boutique estate would envy. For Portuguese fortified-wine producers weighing the Nordic monopolies, it is the reference case for the value of a permanent listing over a launch.
2025 — Systembolaget sales of 36,109 litres of Vintry’s Madeira Fine across the two bottle sizes, level with 2024 (2025 article ledger).
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