Place a colander over a large bowl. Line the colander with a thin kitchen towel.
Toss ⅓ of the spinach in a heavy Dutch oven over high heat until wilted but still bright green, about 3 minutes. Transfer the spinach to the prepared colander. Repeat with the remaining spinach in 2 batches. Let the spinach cool briefly. Gather the towel around the spinach and squeeze well, pressing out as much liquid as possible.
Heat the olive oil in a heavy skillet over medium-high heat. Add the chopped garlic, olives and raisins and sauté until the garlic begins to color, about 3 minutes. Add the spinach and toasted pine nuts and toss until heated through. Add the vinegar and toss. Season the spinach generously with salt and pepper and serve.
Notes
*The preparation of the spinach may be done up to 8 hours ahead of time, and then cover and refrigerate.