21 Invest has signed a binding agreement for the sale of Farnese, a leading wine group in Central and Southern Italy, to NB Renaissance Partners.
Acquired by 21 Investimenti II in 2013, Farnese became the undisputed leader in the production and sale of Central and Southern Italian wine by:
- Completing its institutionalization with the recruitment of a new Managing Director;
- Launching the production and distribution of wine from Puglia;
- Investing over €M 10 in two modern production facilities in Abruzzo and Basilicata.
These results were achieved by leveraging on the local territory through long-term collaborations with small local grape growers, in line with the social commitment that has always been part of 21 Invest’s DNA.
On the back of these targeted actions, Farnese today sells its products in over 80 countries worldwide and in about 3 years of 21's tenure has nearly doubled both its sales and Ebitda, which are expected to reach, respectively, €M 56 and €M 11 in 2016.Valentino Sciotti and Filippo Baccalaro, who founded the company in 1994, will reinvest and are committed to further boosting Farnese’s growth going forward.
Alessandro Benetton, Founding Managing Partner of 21 Invest, said: “I am proud of the results achieved by Farnese in recent years alongside 21 Invest as they demonstrate how with the right ideas, creativity, passion and skill it is possible to create companies that are leaders in their industry and that are able to combine growth, social commitment and development of the local community. We have been able to establish a clear discontinuity in the history of Farnese, leading it into a new growing season.”
Valentino Sciotti, CEO of Farnese, said: “the 21 Invest team got involved in the business and helped us to improve. They supported the company in further structuring its management team and innovating its business practices. At the same time, they fully embraced our business model and the ability of the company to grow also by responding to the existing societal needs of local small farmers.”
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