Gruppo Campari Exits Italian Still Wines Business
Gruppo Campari is selling its Italian wineries Sella & Mosca and Teruzzi &Puthod for €62 million. The business sold consists of the Sella & Mosca and Teruzzi & Puthod trademarks, as well as the vineyards, vinification and production plants, inventory and real estate assets.
In the financial year ended 31 December 2015, the two companies registered overall net sales of €21.4 million and overall EBITDA pro-forma of approx. €3.2 million.
The overall deal consideration corresponds to an expected multiple of 13.9 times the overall pro-forma EBITDA expected in 2016 (corresponding to approx. € 4.4 million). 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 (Tuscany), and is a prestigious brand for Vernaccia di San Gimignano. The product range comprises premium wines including Terre di Tufi, Arcidiavolo and Peperino.
After the disposal of Sella & Mosca and Teruzzi & Puthod, which entered into Gruppo Campari’s portfolio in 2002 and 2005 respectively, Gruppo Campari will complete its exit from the Italian still wines business. This move started in 2015 with the disposal of the Italian winery Enrico Serafino.
Bob Kunze-Concewitz, chief executive of Gruppo Campari, comments: “This transaction confirms Gruppo Campari strategy of streamlining non-core activities and increasing focus on its core spirits business.”
