A week full of news regarding the world of wine in Italy: first Campari "joining" Tannico, and then the Conterno auction.
The facts are these:
Campari acquired a stake equal to 49% of Tannic S.p.A., for 23.4 million euros. The beverage group announced that it has signed an agreement with all the main shareholders (the CEO of Tannico Marco Magnocavallo, P101 SGR and Boox Srl): the structure of the transaction provides that Campari Group will acquire 39% of the capital of Tannico and simultaneously subscribes to a reserved capital increase to reach a total stake of 49%. The total consideration for the purchase of the 49% stake is 23.4 million euros. Campari will have the possibility to increase the stake to 100% starting in 2025, subject to certain conditions. The completion of the transaction is expected by the end of July 2020.
For the first time a batch of labels from the Belpaese touched 100,000 euros: 96.000, to be exact, the 56 magnums of Barolo Monfortino Riserva by Giacomo Conternor, from 1990 to 2010, under the - virtual - hammer of Aste Bolaffi.
On the first news I think it is clear that Covid has had some positive effect on the world of wine. I am not saying that an operation of this magnitude has been prepared in these few months, but that there has been an evident push forward. It is also evident that the wine market has suffered in this period, but I believe it can finally stimulate new business models,
Selling wine online is a constantly growing reality and the numbers say so. Of course, the lockdown was a real explosion in demand.
On the second news ... I would like to know the buyer to know who he is and, above all, why he bought that wine. To drink it? For speculation ...
If you were Campari where would you invest to develop Tannico?
If you were the one who won the 54 magnums what would you do with the wines?