Farnese Vini switches to US Platinum Equity

 

The ownership of Farnese Vini will pass from hand to hand, and the company will continue its work of enhancing the Italian wine-growing and wine-producing areas. The US investment company Platinum Equity has in fact announced that it has acquired the company from its previous owners, namely NB Renaissance Partners (NBRP), co-founder Valentino Sciotti and other minority shareholders. The final agreement was signed a few hours ago. The financial terms were not disclosed. Sciotti will reinvest alongside Platinum Equity and will remain executive chairman, "Farnese founder and CEO, Valentino Sciotti, will continue to lead the company after the transition of ownership and will be a major shareholder," says the statement distributed in the United States by Platinum Equity. 

 

"We have created a successful global business, merging into a single reality on the one hand the quality vineyards and agricultural techniques of local growers, on the other hand our advanced production capabilities and sales and marketing expertise - said Sciotti - I am proud of all that our company has achieved and look forward to the next phase of growth and expansion".

 

Founded in Ortona in 1994 by a group of wine entrepreneurs led by Sciotti and Filippo Baccalaro, Farnese produces and distributes high quality wines from six regions of Southern and Central Italy and exports to more than 80 countries worldwide through a network of importers and distributors. The company generates 97% of its revenues outside Italy: its main markets are Germany, Switzerland, Canada, Holland, Belgium and Japan. In the three years of NBRP's investments, Farnese's revenues increased on average by 13% to more than 76 million euros in 2019 and Ebitda by 18% (CAGR) to more than 17 million.

 

Platinum Equity was founded in 1995 by Tom Gores. It is a global investment firm with over $19 billion in assets under management and a portfolio of approximately 40 operating companies serving clients worldwide. Platinum Equity specializes in mergers, acquisitions and operations - a branded strategy it calls M & A & O® - that acquires and manages companies in a wide range of corporate markets, including manufacturing, distribution, transportation and logistics, equipment rental, metal services, media and entertainment, technology, telecommunications and other industries. Platinum Equity has completed more than 250 acquisitions in the past 25 years.