Wine brings euphoria to the stock market. Italian Wine Brands, the first Italian winery to go public, on the alternative market of Piazza Affari (Aim) earns over 12%, reaching 36 euros per share (+ 12.85% at lunchtime) after the announcement of having signed binding agreements for the acquisition of 100% of the capital of Enoitalia.
Founded in 1986 and entirely controlled by the Pizzolo family, Enoitalia one of the main Italian wine producers with about 111 million bottles sold in 2020, a share of exports equal to over 80% of turnover and an important position in the production and distribution of Prosecco, sparkling, semi-sparkling and still wines, both white and red.
To take over the company of Calmasino (Verona) and Montebello Vicentino (Vicenza), Iwb will pay 150.5 million euros in cash. The transaction also provides that the family holding company and majority shareholder of Enoitalia, iThe Pizzolo group reinvests in Iwb through a capital increase, reaching a stake of 15.91%. The newly issued Iwb shares subscribed by the Pizzolo Group cannot be sold for a period of 36 months (lock-up).
Through the integration of the two companies, the first Italian private wine group by size will be born, with aggregate revenues of € 405.1 million and a gross operating margin (ebitda) of € 42.7 million. The entry of Enoitalia into the scope of consolidation of the listed group will guarantee the strengthening of the presence of Italian Wine Brands on international markets, especially in the United Kingdom, where Enoitalia achieved 68.1 million in revenues in 2020 and in the US market, where it made 16.9 million. The merger will also allow a further diversification of the customer base, and the strengthening of the winemaking and bottling capacity of the group, through the use of the production sites of Calmasino and Montebello Vicentino. Finally, it will allow to obtain important revenue and cost synergies.
But the whole wine sector to continue to be dynamic, as indicated by the data released on the eve of OperaWine, the event scheduled for Saturday in Verona. Made by Vinitaly with Wine Spectator, the American magazine of reference for the global wine business, the beginning of a long and gradual restart of Vinitaly in Italy and in the world. S.according to the analysis of the Vinitaly-Nomisma Wine Monitor Observatory on a customs basis, the statistics of the last few months are showing a strong revival of orders for Italian and French wine in the 2 key market countries. In the month of April, wine imports in the United States grew on average by 20% in value, with Italy (+ 26%) and France (+ 51%) which mark growth well beyond the average. April, but not only that, also very positive for Chinese demand, which in the month recorded a real boom in the value of orders from Italy (+ 98%) which today – after the Australians left the scene – became the third supplier country in China.