Gruppo Campari has officially left Italian wine behind.
The company recently announced an agreement to sell 100% of its Sardinian winery Sella & Mosca and Tuscan winery Teruzzi & Puthod to the wine seller and distributor Terra Moretti. The overall deal will bring Campari $65.62 million. The business sold consists of the Sella & Mosca and Teruzzi & Puthod trademarks, as well as the vineyards, vinification and production plants, inventory and real estate assets.
“This transaction confirms Gruppo Campari strategy of streamlining non-core activities and increasing focus on its core spirits business,” says Bob Kunze-Concewitz, Chief Executive Officer – Gruppo Campari, in a press release.
After the disposal of Sella & Mosca and Teruzzi & Puthod — which entered into Gruppo Campari’s portfolio in 2002 and 2005 respectively — Gruppo Campari has completed a full exit from the Italian still wines business. This commitment started in 2015, with the sale of the Italian winery Enrico Serafino.
In the fiscal year that ended December 31, 2015, Sella & Mosca and Teruzzi & Puthod together registered overall net sales of $22.65 million, Campari reported in a press release.
The closing of the transaction is expected before the end of 2016.
Sella & Mosca incorporates 550 hectares of vineyards. It is engaged in the vinification of still and sparkling wines, with an increasing presence in premium wines segment, including red wines such as Marchese di Villamarina, Tanca Farrà, Cannonau and Terre Rare; and white wines Monteoro, Vermentino di Gallura, Terre Bianche and Torbato.
Teruzzi & Puthod comprises about 100 hectares of vineyards, with a product range including premium wines like Terre di Tufi, Arcidiavolo and Peperino.