Allegrini 2018

The ownership of Farnese Vini to Platinum Equity: there is the signing of the final agreement

After the official confirmation to WineNews by the president of the group, Valentino Sciotti, here is the official communication

The news had been in the air for a week, the confirmation, unofficially, was given to WineNews a week ago by the president of Farnese Vini, Valentino Sciotti (here) and now it's official. The official press release of the group states: “The ownership of Farnese Vini, one of the gems of Italian enology, will pass from hand to hand, and it will continue its exceptional work of enhancing the Italian territories most suited to wine-growing. The U.S. investment company Platinum Equity has in fact announced that it has acquired the company from its previous owners, namely NB Renaissance Partners (which in 2016 became the majority shareholder of the group by acquiring shares of 21 Investimenti di Alessandro Benetton, Ed.), co-founder Valentino Sciotti and other minority shareholders. A few hours ago the final agreement was signed. The financial terms have not been disclosed (but the amount should be close to 180 million euros, ed.)”.
Sciotti will reinvest alongside Platinum Equity and will remain Executive Chairman. “The founder and CEO of Farnese, Valentino Sciotti, will continue to lead the company after the transition of ownership and will be a major shareholder”, says the statement distributed in the United States by Platinum Equity. “We have created a successful global business, combining in a single reality on the one hand the quality vineyards and agricultural techniques of local farmers, on the other hand our advanced production capabilities and sales and marketing expertise - says Sciotti -. I am proud of all that our company has achieved and I am looking forward to the next phase of growth and expansion”.

Focus - Farnese Wines
Founded in Ortona in 1994 by a group of wine entrepreneurs led by Sciotti and Filippo Baccalaro, Farnese produces and distributes high quality wines from six regions of Southern and Central Italy and exports to more than 80 countries worldwide through a network of importers and distributors. The company generates 97% of its proceeds outside Italy: its main markets are Germany, Switzerland, Canada, Holland, Belgium and Japan. In the three years of NBRP’s investments, Farnese’s revenues increased on average by 13% to more than 76 million euros in 2019 and ebitda by 18% (CAGR) to more than 17 million.

Focus - Platinum Equity
Platinum Equity was founded in 1995 by Tom Gores. It is a global investment company with over $19 billion in assets under management and a portfolio of approximately 40 operating companies serving clients worldwide. Platinum Equity specializes in mergers, acquisitions and operations that acquire and manage companies in a wide range of corporate markets, including manufacturing, distribution, transportation and logistics, equipment rental, metal services, media and entertainment, technology, telecommunications and other sectors. Platinum Equity has completed more than 250 acquisitions in the past 25 years.

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