Top San Gimignano estate Teruzzi & Puthod has been bought by The Campari Group for an estimated €12m, further expanding its wine portfolio.
Known for its Terre di Tufi and Vernaccia di San Gimignano wines, Teruzzi & Puthod covers some 194ha (hectares) of land, of which 90ha are vines.
The estate exports 80% of its total production, mainly to the USA and Germany, and has a turnover of around €4m.
‘The integration of Teruzzi & Puthod into the Campari Group aims at reinforcing our wine business where we already have a strong presence through the Cinzano brand,’ said Campari boss Enzo Visone. ‘It will also increase our wine exports to the USA and Germany.’
Recent Campari purchases include the Enrico Serafino estate in Piedmont and the 600ha Sardinian Sella & Mosca estate which produces 7m bottles of wine per year, including Marchese di Villamarina DOC, Alghero Tanca Farrà, Monteoro and Vermentino di Gallura.
Campari aims is to give ‘new life’ to a selection of top Italian wineries which, according to company spokeswoman Chiara Bressani, could very soon include top selling brands in other notable wine-producing regions.
Written by Michèle Shah