RUMORS: ANNOUNCEMENT OF THE POSSIBLE SALE OF FONTANAFREDDA BY MPS ATTRACTS MANY... POSSIBLE COMPETITORS ARE THE GIV GROUP AND CAMPARI, BUT THE INTEREST OF OTHERS NOT EXCLUDED

That which could be up for grabs is a true enological jewel and its contenders are of the highest levels as well. News of the possible sale of Tenimenti Fontanafredda, the splendid company from the Piedmont region, owned by MPS Group (together with Tuscans Villa Chigi Saraceni and Poggio Bonelli), has attracted the attention of some of the biggest names in Italian wine.
Strictly according to rumor, it has been heard that there are two main interests: on one side, GIV, the Italian wine group giant, and on the other side the stock quoted company Campari, which, as well as various liquors, is also owner of Sella & Mosca and Teruzzi & Puthod. Announcing the sale of the winery in Serralunga d’Alba (the largest Barolo making company and among the top 30 Italian companies for earnings) was Monte dei Paschi president, Giuseppe Musssari, who explained that the operation should not be excluded because Fontanafredda, “is neither strategic nor functional for the core business of the bank”. The announcement, however, would not involve the group’s Tuscan companies.
At the moment, Monte dei Paschi is setting up a study to figure out the market value of the Piedmontese company, which should arrive somewhere between 130-150 million euros. Founded in 1878 by Count Emanuele Guerrieri, the son of king of Italy Vittorio Emanuele II and morganatic wife, Countess Rosa di Mirafiori, the Tenimenti of Barolo and Fontanafredda were acquired by Monte dei Paschi in 1931, following the failings of the Mirafiori family. With over 110 hectares, of which 80 are specialized vineyards in the heart of the Langhe, the company produces 6.5 million bottles between Asti spumante and red wines, among which Barolo is the top production, with an export fluctuation of about 50%.
Earnings reach over 30 million euros, and this year an increase is expected due to its good performance, especially on foreign markets, as well as returns from its image that was connected to the winter Olympic games in Turin that Fontanafredda supplied the wine for. Still according to rumors, it must not be excluded that in the race for Fontanafredda there may be a third contender with a strong Tuscan accent. In the meantime, interest in the news is growing and it is possible that there could be even more potential buyers, possibly foreigners, entering the game. A run to grab a “gem” that probably doesn’t deserve to be put on the market even if “it is not suitable for the assets of the owners”.
Leonardo Roselli