Zonin 1821, estates are on sale: all offers will be evaluated

In the announcement, which was reported exclusively in advance, regarding the request for a Negotiated Crisis Settlement Procedure (Cnc) in April, Zonin 1821, one of Italy most articulated and significant wine groups, stated that its turnaround plan would include “a review of the three-year commercial strategy, with an emphasis on revenue growth and profitability by product and distribution channel”, as well as a “rationalization of part of the Group agricultural production assets, which together comprise 1,500 hectares”. It is in this direction, namely, that of the possible sale of the Group estates which developments appear to be taking place, at least in terms of expressions of interest.
The Group estates are located in some of Italy’s most important wine regions, including Castello del Poggio in Piedmont (a sparkling wine brand which is also used as a label for Prosecco DOC in the United States), Principi di Butera (Sicily), Masseria Altemura (Puglia), Il Bosco (Oltrepò Pavese, Lombardy), Ca’ Bolani (Friuli-Venezia Giulia), Rocca di Montemassi (Tuscany), and the true “crown jewel” Castello d’Albola, located in the heart of the Chianti Classico area and renowned for its extraordinary charm.
As the company explained in a statement, “Zonin 1821 continues with confidence along the path of the Negotiated Crisis Settlement Procedure (Cnc), also in light of ongoing discussions with potential investors and parties interested in acquiring only the estates. The family, shareholders, and management reaffirm their full commitment to carefully evaluating all possible options and appropriate paths to secure the future of the company, as established and envisaged from the outset of this process at the end of April. Any further updates will be communicated, where appropriate, through the proper channels and at the most suitable time”.
According to information gathered by WineNews by sources close to the company, the estates could also potentially be sold individually rather than as a single package, and all offers will be carefully evaluated.