Italian wine producer Masi Agricola has purchased a 60 per cent stake in sparkling wine producer Canevel Spumanti.
The deal also includes an equal stake in Societa Agricola Canevel and in Canevel Spumanti Tenuta Le Vigne Societa Agricola.
The transaction is worth around €7 million, wholly paid in cash. The stake was sold by shareholders Carlo Caramel, Tatiana Milanese, Silvia Caramel, Roberto De Lucchi and Roberto Covre.
Canevel sells premium sparkling wines both in Italy and abroad (mainly Germany, US, Switzerland, UK, Austria), enabling it to achieve revenues of €4.2 million and a production of about 800,000 bottles. Its main product is the Valdobbiadene Prosecco Superiore DOCG sparkling wine.
Masi Agricola is known worldwide for the production of the Amarone di Valpolicella wine.
© 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.
