Angelo Gaja’s denial of alleged negotiations with LVMH has refocused attention on acquisitions in the Italian wine industry. Between completed deals, rumors, and ongoing negotiations, ownership of many wineries is changing. The lack of generational succession and the industry crisis are fueling a trend in which major Italian and foreign groups are playing a leading role.
Angelo Gaja flatly denied that negotiations were taking place with the LVMH Group (Louis Vuitton, Moët, Hennessy) regarding the possible sale of his company. After all, the words spoken by his daughter Rossana in the interview she gave to Luciano Lombardi right here on DoctorWine were quite different from those of someone intending to sell their winery.
Completed transactions
The fact is, however, that negotiations are currently underway for several companies are being widely discussed at the moment. Some have been finalized, such as the sale of the Montevetrano to Tenuta Ulisse. With Silvia and Gaia Imparato still involved in the business. A few years ago, Silvio Jermann had sold a majority stake in the company to Antinori, while maintaining continuity in management.
Then La Massa to Tommasi, Bucci and Pico Maccario to the Veronesi family group, owners of Signorvino. Biondi Santi and Isole e Olena to the French EPI Group, Attems to Frescobaldi.
Generational Transition and the Wine Crisis
But alongside the sales that have gone through, there are negotiations that have not been successful and others still underway – something that has never happened before. There are essentially two reasons for this: the lack of a generational transition and the profound crisis that the wine industry has been experiencing over the past two years.
Major corporations, such as LVMH, the Italian Argea – now the second-largest wine producer in Italy by revenue. And, as we’ve seen, Antinori itself, are very active in the area of new acquisitions. There are many rumors circulating – and many denials as well, such as the one regarding Gaja – but there is some truth to them, and we will see this in the coming months; of that we can be certain.
