The 12 winemaking families of the Primum Familiae Vini (PFV) group said they have launched the €100,000 (£91,000) sustainability prize to support other family-owned businesses around the world.
The group said family companies are ‘a critical part of the global economy’.
The annual ‘PFV Prize’ will be awarded to a company that demonstrates ‘excellence in sustainability, innovation, craftsmanship, and the successful transmission of responsibility and commitment from one generation to another’.
Marc Perrin, president of the PFV and co-owner with his family of Château de Beaucastel, said, ‘The best family enterprises have a profound commitment to sustainable development and to the environment.
‘Family companies should personify the best values of social responsibility and the kinder human face of free enterprise at a time when globalisation, and a rather depressing uniformity, have become increasingly prevalent.’
He added, ‘By announcing this prize at a time of international crisis resulting from Covid-19, we emphasise the long-term thinking of family companies and our inherent optimism about the future, providing we defend the right values’.
The PFV group said that family businesses can capitalise on several distinct advantages, including a strong corporate culture, a long-term perspective, and a strong connection to family stakeholders.
However, it also noted common challenges, such as managing family conflict and performance, succession issues and maintaining entrepreneurial drive.
The 12 families of the PFV said they wanted to use their experience and long history of dedication to the quality of their respective wine regions to encourage others to ‘continue their independent development’; proving that a family business ‘can be a powerful tool to respond to the social and environmental challenges of our time.’
Applications for the PFV Prize 2020 will be open online from 1 July and close on 30 October 2020.
The shortlist of five family owned companies will be published in January 2021 and the winner announced in March 2021.
The winner, who will have the opportunity to share knowledge with the PFV, will be selected by a jury comprising one member of each of the 12 families, including:
- Priscilla Incisa Della Rochetta – Tenuta San Guido, Italy – Founded 1840
- Albiera Antinori – Marchesi Antinori, Italy – Founded 1385
- Egon Müller – Egon Müller Scharzhof, Germany – Founded 1797
- Prince Robert of Luxembourg – Domaine Clarence Dillon, France – Founded 1935
- Marc Perrin – Famille Perrin, France – Founded 1909
- Paul Symington – Symington Family Estates, Portugal – Founded 1882
- Frédéric Drouhin – Maison Joseph Drouhin, France – Founded 1880
- Miguel Torres Maczassek – Familia Torres, Spain – Founded 1870
- Jean-Frédéric Hugel – Famille Hugel, France – Founded 1639
- Pablo Alvarez – Vega Sicilia, Spain – Founded 1864
- Philippe Sereys de Rothschild – Baron Philippe de Rothschild, France – Founded 1853
- Hubert de Billy – Champagne Pol Roger, France – Founded 1849
The PFV Selection Jury will be supported by Christophe Brunet, General Secretary of the PFV.