FONTANAFREDDA WILL BE CEDED BY THE MPS BANK BY JUNE. AMONG POTENTIAL BUYERS, THE MPS FOUNDATION.THE NUMBERS ARE OK FOR THE LEADING BAROLO PRODUCERS: THE 80 HECTARES LOCATED IN THE LANGHE AREA EARNED 30 MILLION EUROS IN 2006 (+17%)

The Fontanafredda “game” may end by June. MPS Bank, which owns 100% of the Piedmontese winemaking company, intends to sell it all to the highest bidder. The ceding of this historic company is part of a reorganizing and rationalizing campaign by the bank and foresees the sale of non instrumental properties and the ceding of non strategic investments. There are many contenders (more than 30) who are vying for the Fontanafredda property, including both Italians and foreigners. And it is not only the vineyards sparking so much interest, but also the very enticing patrimony that Fontanafredda represents.

Founded in 1878 by Count Emanuele Guerrieri, the son of the first king of Italy Vittorio Emanuele II, with his wife, Countess Rosa di Mirafiori, the Fontanafredda estate was then acquired by Monte dei Paschi bank in 1931 following the failings of the Mirafiori family. With over 110 hectares, of which 80 are specialty vineyards located in the heart of the Langhe, the company produces 6.5 million bottles that include Asti Spumante and various red wines like Barolo. It has an export flow of 50%. Its earnings, on average, surpass 30 million euros and, in 2006, it registered a +17% increase. It is not surprising that the company has aroused so much interest and that its value hovers around 100 – 120 million euros.

Well hidden behind lawyers, accountants, and businessmen, it would seem, according to rumors, that there might be interest from Campari, the Italian group Vini (Giv), Ilva di Saronno of the Garavoglia family, and various other foreign investment groups. According to other rumors, MPS bank is considering ceding to the historic MPS Foundation, which in turn controls MPS Bank. There has even been word that the ex Unieuro patron, Oscar Farinetti, today head of Eataly, is also interested, as well as the main competitors of MPS Bank, the San Paolo-Intesa banking group.