There is about 1.45 billion in revenue from Italian wine looking for an author. There are at least six or seven leading Italian wine companies that could see a radical change in governance over the next 6-12 months.
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Last July, a group of entrepreneurs submitted an offer to acquire some important assets of Zonin 1821: a company with a 2025 turnover of 188 million euros and currently undergoing a negotiated composition procedure at the Venice Court. This offer was added to a previous one submitted by a Sicilian cooperative for the purchase of only the winery of the Feudo Principi di Butera Group (in the province of Caltanissetta).
There are two important developments on this front. One, evident from the documentation released by the Venice Court, concerns the refusal by Banca Intesa of the request to renegotiate the 110 million euro debt.
The other news is that the procedure, which is currently collecting expressions of interest, has a deadline of next September 30 and according to financial circles’ rumors will most likely be extended until December 31. It is understood that Mediobanca is coordinating a new group of operators to reach the definition of a new offer.
Another important chapter concerns Argea, the leading private player in Italian wine (with a 2025 turnover of 462 million euros) controlled by the Clessidra fund. Argea is also facing a deadline: within six months it must close Fund One, the fund with which it acquired years ago the Prosecco leader Botter (which then merged with the Mondodelvino winery cluster and the Abruzzo brand Zaccaganini to create the new player). Argea now must close Fund One or exit within six months. For this reason, it is looking for a partner to acquire 30% of the capital with a valuation around 150 million euros.
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