Wine: 1.45 billion in revenue at a crossroads between funding, disposals and new shareholders

There is approximately 1.45 billion in Italian wine turnover awaiting a new owner. There are at least six or seven leading Italian wine producers that could see a radical change in their governance over the next 6–12 months.

Last July, a consortium of entrepreneurs submitted a bid to acquire certain key assets of Zonin 1821: a company with a projected turnover of 188 million euros for 2025, which is currently undergoing a negotiated settlement procedure at the Court of Venice. This bid came on top of the one previously submitted by a Sicilian co-operative for the purchase of the Feudo Principi di Butera Group’s winery alone (in the province of Caltanissetta).

There are two significant developments in this regard. The first, as can be seen from the documents released by the Court of Venice, concerns Banca Intesa’s rejection of the request to renegotiate the 110 million debt.

The other development is that the process, which is currently gathering expressions of interest, is due to close on 30 September, although, according to rumours in financial circles, it is highly likely to be extended until 31 December. It is understood that Mediobanca is coordinating a new group of operators with a view to finalising a new bid.

Another important development concerns Argea, the leading private player in the Italian wine sector (with a turnover of 462 million euros in 2025), controlled by the Clessidra fund. Argea, too, is facing a deadline: within six months, it must wind up Fondo Uno, the fund through which it acquired the Prosecco leader Botter several years ago (which was subsequently added to the Mondodelvino portfolio of wineries and the Abruzzo-based Zaccaganini brand to create the new player). Argea must now either wind up Fondo Uno or exit it within six months. To this end, it is seeking a partner to acquire a 30 per cent stake, valued at around €150 million.