News has just reached our newsroom that BolognaFiere and Class Editori have formed an industrial and equity partnership involving Gambero Rosso SpA. Here is the official press release from BolognaFiere.
Bologna, September 11, 2026
BolognaFiere S.p.A., a company listed on the Professional segment of the Euronext Growth Milan market and one of the leading international trade fair operators (“BolognaFiere”). Announces that it has finalized an industrial partnership today with Class Editori S.p.A. (“Class Editori”) concerning Gambero Rosso S.p.A. (“Gambero Rosso”), a subsidiary of Class Editori listed on the Euronext Growth Milan market.
To this end, Gambero Rosso Holding S.r.l. (“GR Holding”), into which Class Editori contributed 7,394,050 ordinary shares of Gambero Rosso. Representing 51.17% of the share capital, while continuing to hold a direct 10% stake in Gambero Rosso.
The purchased share
As part of the transaction, BolognaFiere acquired a 49.9% stake in GR Holding’s share capital from Class Editori for a total price of 5.693 million euros, which is not subject to any subsequent adjustment mechanisms. The remaining 50.1% of GR Holding is held by Class Editori, which will continue to exercise control over Gambero Rosso, including through its direct ownership stake.
The acquisition was financed entirely by BolognaFiere using its own funds.
Today, Gambero Rosso is Italy’s leading authority for information, training, promotion, and consulting in the Wine-Travel-Food sector, offering a comprehensive range of integrated services to support Italy’s agricultural, agri-food, restaurant, and hospitality industries.
Strategic Operation
With this move, BolognaFiere consolidates its strategic presence in the food and wine sector, pooling its expertise with Gambero Rosso in the planning and execution of trade shows and events on a national and international scale. The collaboration between the parties will also be developed through specific organizational and promotional agreements. This will not alter Gambero Rosso’s positioning or core activities regarding the evaluation and certification of the quality of wines and food products, with the shared goal of further enhancing the brand’s value.
Statement by the President of BolognaFiere
“BolognaFiere’s acquisition of a stake in Gambero Rosso represents a strategic investment in one of the most authoritative and widely recognized publishing brands in the Italian agri-food sector.” Dsays Gianpiero Calzolari, President of BolognaFiere. “We are combining complementary expertise, relationships, and promotional capabilities with the goal of strengthening the international presence of Italian food and wine excellence. This move is consistent with the BolognaFiere Group’s growth and diversification strategy. In line with our mission to build platforms capable of connecting businesses, markets, and regions, we are contributing to the promotion of ‘Made in Italy’ around the world.”
Statement by the Vice President and CEO of Class Editori
“This transaction represents an important step in the growth of Gambero Rosso.” Said Paolo Panerai, vice president and CEO of Class Editori. “Because it will be able to draw on BolognaFiere’s extensive Italian and international experience to further strengthen its position in the Wine-Travel-Food sector. Class Editori will continue to ensure the editorial continuity of Gambero Rosso in evaluating and certifying the excellence of Italian wine and food.” As a wine producer, Panerai has for years requested and obtained that Gambero Rosso assign its wines scores equal to the average of the ratings given by leading international critics. As specified in the Guides, this is to avoid any conflict of interest.
The Agreement
The agreement provides for the issuance of a set of representations and warranties in line with standard practice for similar transactions, as well as the granting of cross-options to buy and sell the equity interests held in GR Holding. These options may be exercised beginning upon approval of the financial statements for fiscal year 2028.
It is also stipulated that three of the 12 members of Gambero Rosso’s Board of Directors will be selected from among candidates nominated by BolognaFiere. One of them will serve as Vice President.
The transaction is deemed immaterial pursuant to Article 12 of the Euronext Growth Milan Issuers’ Regulations, as none of the applicable materiality thresholds exceeds 25%.
As part of the transaction, BolognaFiere was advised by ADVANT Nctm on all legal and tax matters. BPER Corporate & Investment Banking served as financial advisor. PwC handled the financial due diligence, and S. Cohen & C. served as business advisor.
BolognaFiere Press Office
This press release is available on the BolognaFiere website www.bolognafiere.it, in the Investor Relations/Financial Press Releases section, and on the 1INFO system for the dissemination and storage of regulated information (www.1info.it).
