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Corporate M&A

Update | Italian wine lands value: Barolo area remains on top, Pambianco recent study highlights

A recent study conducted by Pambianco (one of the leading finance media in Italy – CLICK HERE to read the study) analyzed the transactions which took place in the Italian wine market. In 2016, in the Barolo area, the American entrepreneur Kyle Krause spent €60 million on the Vietti’s winery (28 hectares), in 2018, Mirco and Federica Martini invested €2 million for half a hectare in La Morra, and in 2021 the Dosio Group invested in Coppo – Canelli’s winery. In Tuscany, the acquisitions of Batzella (Bolgheri) by Agricola San Felice (Allianz Group) and Podere Arundineto by Frescobaldi (Masseto and Ornellaia’s owner). In addition, both Folonari’s Tenuta Campo al Mare and Michele Scienza’s Guado al Melo decided to expand their vineyards, purchasing new hectares. In Montalcino, on the other hand, Castiglion del Bosco passed from the Ferragamo family to an important international family office, and Cantine Leonardo da Vinci was acquired by the Prosit group of Quadrivio & Pambianco.

The exclusivity of these denominations meant also high minimum prices (from €200.000 to €1-2 million) below which there is no negotiation.

Both Matteo Ascheri, president of the Consorzio di tutela Barolo Barbaresco Alba Langhe e Dogliani and Fabrizio Bindocci, president of the Consorzio del Vino Brunello di Montalcino, are in favour of these operations, as long as the typicality of the territory is safeguarded and preserved.

The study shows the average value of land acquisition in the most renowned wine production areas of Italy, including Barolo, Cartize and Barbaresco (top 3) to get to Franciacorta and Trento Doc, which close the top ten.

The wine market is an attractive investment for funds, foreign investors and individual who want to differentiate their portfolio. It is also often connected to leisure and hospitality opportunities. Such investments involve a variety of legal and tax aspects connected to the acquisition of the properties and wine production companies, the structuring of the investment vehicles and the subsequent development of the business. Several of these aspects were discussed in the European wine law conference held in Turin in 2021 which RP Legal & Tax contributed to organise (CLICK HERE to see the past event’s program).

(c) Photo by Cristian Lorini (Wikimedia Commons)

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