Allegrini 2018

Castiglion del Bosco, an epochal deal (from WineNews estimate between 300 and 400 million euros)

The transition from Massimo and Chiara Ferragamo to an intercontinental “family office” is among the highest ever for added value linked to the land

It is an epochal affair, the one that saw Castiglion del Bosco, a pearl of absolute beauty in Montalcino, with a double soul divided between the production of great wine, Brunello, and hospitality of the highest level, passing from the property of Chiara and Massimo Ferragamo, to that od a world “family office” which, according to WineNews, would be made up of families of entrepreneurs from different continents. No Russian investors, nor the French luxury giant Lvmh, therefore, which rumors gave to shopping in the Montalcino area, but in any case, a deal that will go down in history, and which, probably, is among the highest “land” passages added values, with a WineNews estimate between 300 and 400 million euros. For an estate, or a village, of 2,000 hectares, of which 62 hectares of vineyards (and 60 hectares of Brunello di Montalcino, with a production of 250,000 bottles of the famous Tuscan red) and 400 hectares of arable land, in addition to Rosewood Castiglion del Bosco, a 5-star luxury resort, located in the ancient medieval village, with 42 suites, 11 villas with private pools, Spa and 2 restaurants, and “The Club”, the only private golf Club in Italy with 18 holes designed by legendary British Open champion Tom Weiskopf on 210 hectares of softly rolling hills.
All restored, recovered and enhanced in every detail, since 2003, by the taste of Chiara and Massimo Ferragamo, who will remain linked to the company (with roles that will be redefined in the coming days). As will the management, starting with the CEO, Simone Pallesi, as evidence of the fact that it is not a speculative investment, but business investment, for what is called a “trophy asset”, that is real estate complex not only of absolute value, but unique, to the point that its value cannot be evaluated only with the parameters classics of real estate and business appraisals.
Because the Castiglion del Bosco project, which started from the cellar and the wine, has been enriched over time, with very important investments, by Chiara e Massimo Ferragamo, which have made it a world-class hospitality benchmark. So much so that it is managed, not for the agricultural part, but for the hospitality one, by the Rosewood group, a giant of luxury hotels(with many other realities in the world from Venice to Rome from Vienna to London, from New York to Doha, from Abu Dabi to Beijing, just to new a few), historically founded by the Texan Caroline Rose Hunt, coming from a family of oil companies, and then passed to the Cheng family, a dynasty of Hong Kong entrepreneurs.
Family that, WineNews learns, would have been in the ownership structure of the “agricultural part” of Castiglion del Bosco, from which it would have wanted to leave, not being the focus of the group’s business activity. Which, as mentioned, is a high level hotel business, so much so that, according to WineNews, the resort will continue to be managed by Rosewood for years.
In any case, a historic deal on the Italian scene, which confirm, once again, the appeal of Montalcino area, as underlined by an official note from the Consorzio del Vino Brunello di Montalcino: “with today’s acquisition Montalcino confirms itself as cosmopolitan of wine and with a common denominator: that of the appeal of the brand the quality of its Brunello and the territory”, said the president Fabrizio Bindocci, underlining how the operation “marks another prestigious transfer of ownership for one of the best known wine-growing areas in the world and wine, Brunello di Montalcino, which is the best known by Italian consumers and among the most popular in the world. we welcome the newcomers to Montalcino, and thanks to Chiara and Massimo Ferragamo who, over the years, have shown attachment and love for the Montalcino area helping it in its growth of quality and beauty”.

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