The big deal for Italian wine brands

The first private group of the wine sector in Italy was born, with a total turnover of 405 million euros.

Italian Wine Brands, a wine group listed on the Aim Italian segment of the Italian Stock Exchange, has announced the acquisition of 100% of Enoitalia, a company founded in 1986 and still controlled by the Family Pizzolo, with a turnover of 200.8 million euros in 2020, an EBITDA of 17.1 million euros and a net financial debt of 1.1 million euros.

The agreements provide that IWB will acquire 100% of the capital of Enoitalia on the basis of a total net value of 150.5 million euros, an amount which will be paid in cash on the closing date. The family holding company – together with the majority shareholder of Enoitalia, Gruppo Pizzolo Srl – will reinvest in the IWB group through the subscription of 1,400,000 newly issued IWB ordinary shares at a price of 32.50 euros each, reaching a total stake equal to 15.91% of the share capital of IWB.

“A broader portfolio of products and brands, an enlargement of the customer base, greater territorial diversification of sales, entry into the Horeca sector, a doubling of volumes with production and commercial synergies: in short, more competitiveness “. This is how Alexandre mutinelli, President and CEO of IWB, commented on the transaction. “Today opens a new chapter in our history, we have achieved what we promised at the time of listing and that is to become a leading aggregator in our sector,” he added.

Thanks to the integration of the two companies, the first Italian private wine group by size will be created, with a total turnover of 405.1 million euros and an EBITDA of 42.7 million euros (aggregated accounting data as of December 31, 2020). The entry of Enoitalia into the scope of consolidation of IWB will also ensure the strengthening of the presence of the IWB group on international markets, in particular in the United Kingdom, where Enoitalia achieved a turnover of 68.1 million euros. business in 2020 and on the American market, where Enoitalia achieved turnover of € 16.9 million in 2020.

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Jean H. Vannatta