Italian Wine Brands becomes the number 1 of Italian wine. The wine group has signed the agreement to acquire Enoitalia, wine producer based in Calmasino (Vr). “Through the integration of the two companies”, the note reads, “the first Italian private wine group by size will be created, with aggregate revenues of € 405.1 million and an EBITDA of 42.7 million (aggregate accounting data as of 31 December 2020) “.
In the year of the pandemic, Enoitalia, which boasts a “significant position in the production and distribution of Prosecco, sparkling, semi-sparkling and still wines, both white and red”, sold 111 million bottles with revenues of 200 million, with an export share of 80%, an EBITDA of 17.1 million and a net financial debt of 1.1 million.
According to Pambianco News, Iwb will acquire 100% of Enoitalia’s share capital on the basis of an equity value of € 150.5 million. The family holding, as well as the majority shareholder of Enoitalia, Gruppo Pizzolo, will reinvest in Iwb, listed on the Aim segment of the Italian Stock Exchange, through the subscription of 1.4 million newly issued ordinary shares at a price of 32.50 euros. ‘one, coming to hold a total stake of 15.91% of the share capital. Furthermore, by agreements on the closing date of the Giorgio and Marta Pizzolo they will be appointed as directors of Iwb and Giorgio Pizzolo will hold the position of president and CEO of Enoitalia.