Campari Sells Italian Wineries For €62 Million
Gruppo Campari has signed an agreement for the sale of the ‘Sella & Mosca’ and ‘Teruzzi & Puthod’ wineries to Terra Moretti Distribuzione.
The deal is worth €62 million and consists of the trademarks, as well as the vineyards, vinification and production plants, inventory and real estate assets.
In the fiscal year ended 31 December 2015, the two companies registered overall net sales of €21.4 million and overall EBITDA pro-forma of approximately €3.2 million.
Terra Moretti Distribuzione is a company specialized in the distribution and sale of wines, controlled by Terra Moretti Holding. The closing of the transaction is expected before the end of 2016.
Based in Sardinia, Sella & Mosca is one of the most important wineries in Italy and one of the largest estates in Europe (with 550 hectares of vineyards). It is engaged in the vinification of still and sparkling wines, with an increasing presence in premium wines segment, including red wines such as Marchese di Villamarina, Tanca Farrà, Cannonau and Terre Rare; and white wines Monteoro, Vermentino di Gallura, Terre Bianche and Torbato.
Teruzzi & Puthod is the most important winery in the San Gimignano area in Tuscany, and is a prestigious brand for Vernaccia di San Gimignano. The product range is comprised of premium wines including Terre di Tufi, Arcidiavolo and Peperino.
This transaction is part of Gruppo Campari’s strategy of streamlining non-core activities, completing its exit from the Italian still wines business.
Campari bought French cognac-maker Grand Marnier Group for €684 million in March of this year.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. To subscribe to ESM: The European Supermarket Magazine, click here.