Campari quits Italian wine business

Gruppo Campari has exited the wine business with the sale of its two Italian wineries to the Terra Moretti group.

Campari has sold the entirety of its Sardinian estate, Azienda Vinicola Tenute Sella & Mosca (pictured), and Tuscan estate, Teruzzi & Puthod, for a total of €62 million.

The group said in a statement that the deal will see an initial transfer of €57m to be transferred on the closing of the deal – later this year – and the rest paid in four years time, “guaranteed by a pledge on Teruzzi & Puthod shares, with maturing interests.”

The sale includes the trademarks, 650 hectares of vineyards, vinification and production facilities, inventory and real estate assets of both domains.

Sella & Mosca in Sardinia is a large estate with 550 hectares of vineyards and produces both still and sparkling wines; while Teruzzi & Puthod in San Gimignano is focused on the production of “premium” reds.

Having sold off its other winery, Enrico Serafino, last year, Gruppo Campari has completely divested itself of any wine assets.

Bob Kunze-Concewitz, CEO of Gruppo Campari, said: “We are very pleased to sign this transaction with Terra Moretti Distribuzione, leader in the distribution of premium wines, and a perfect fit for Sella & Mosca and Teruzzi & Puthod to ensure and further enhance the value and tradition of the brands at both national and international level, also thanks to the agreement with N.U.O. Capital. “Moreover, this transaction confirms Gruppo Campari strategy of streamlining non-core activities and increasing focus on its core spirits business. In particular, after this transaction, Gruppo Campari completes its exit from the Italian still wines business, started in 2015 with the disposal of Enrico Serafino.”

Francesca Moretti, CEO of Terra Moretti, stated: “Thanks to these two prestigious acquisitions we strongly emphasise our company’s strategy, a project aimed at developing and enhancing the Italian winemaking tradition at both national and international level. Sella & Mosca is an icon of Sardinia in Italy and in the world; Teruzzi & Puthod is well known for the quality of its wines and for its strong linkage with the territory of San Gimignano (Tuscany).

“More importantly, after this acquisition, we acquire almost 650 hectares of vineyards in two traditional areas suited for it, therefore confirming that our commitment in the wine sector starts from the territory and its identity. We are excited to become part of these two important organisations. Our objective and challenge will be to continue to invest on the acquired brands to strengthen their positioning in the international markets consistently with their tradition, and, at the same time, enhance significantly our offering in terms of both in quality and size.”