Campari Group

01/12/2005

Campari announces the acquisition of Teruzzi & Puthod

Milan, 1 December 2005 - The Campari Group announces the signing, through its subsidiary Sella & Mosca, of an agreement for the purchase of 100% of the Teruzzi & Puthod winery, owned by Mr. Teruzzi and Ms. Puthod, for a consideration of € 12 million, corresponding to a 2004 EBITDA multiple of 6.6 times.

Teruzzi & Puthod, incorporated in 1974, is currently the largest winery in the San Gimignano area and one of the largest in Tuscany, with an estate of 194 hectares, 90 of which are cultivated as vineyards. In 2004 net turnover of Teruzzi & Puthod was over € 4 million, of which more than 80% achieved on the international markets, in particular Germany and the US.

The company’s portfolio includes a number of wine brands, mostly white, among which the important and complex Terre di Tufi and the fresh and fruity Vernaccia of San Gimignano.

Enzo Visone, Campari’s CEO stated, “Through this deal we confirm our interest in the Italian wine market, further strengthening our position in the wine segment. Moreover, thanks to the Teruzzi & Puthod’s acquisition the Campari Group reinforces its position in the wine business, also on the international markets, in particular Germany and the US”.

The acquisition is expected to be closed by the end of 2005 and the consideration will be paid in cash.

The Campari Group therefore integrates its offer in the wine segment, which already includes the Cinzano and Riccadonna brands, the Enrico Serafino wines from Piedmont and the high-end wines of the Sardinian Sella & Mosca, whose products include La Cala, Terre Bianche, Cannonau Riserva, the prestigious Monteoro and Arenarie white wines, and the well-known Marchese di Villamarina and Tanca Farrà red wines. Sella & Mosca S.p.A. in turn holds around 93.66% of Quingdao Sella & Mosca Winery Co. Ltd., a Chinese trading joint venture with local partners producing the Chinese wine brand Catai, as well as 100% of Société Civile du Domaine de la Margue that produces the high quality wine range Chateau Lamargue.

The Campari Group
The Campari Group is a major player in the global beverage sector, trading in over 190 nations around the world with a leading position in the Italian and Brazilian markets and a strong presence in the US, Germany and Switzerland. The Group has an extensive portfolio that spans three business segments: spirits, wines and soft drinks. The Group’s portfolio includes a combination of strong international brands, such as Campari, SKYY Vodka, Cynar and Cinzano and leading local brands, such as CampariSoda, Campari Mixx, Crodino, Aperol, Aperol Soda, Sella & Mosca, Zedda Piras, Biancosarti, Lemonsoda, Oransoda and Pelmosoda in Italy, Ouzo 12 in Greece and in Germany, Dreher, Old Eight, Drury’s and Liebfraumilch in Brazil, Gregson’s in Uruguay, Riccadonna in Australia and New Zealand and Mondoro in Russia. The Group has over 1,500 employees and shares of the parent company Davide Campari-Milano S.p.A are listed on the Italian stock exchange.

Teruzzi & Puthod
Teruzzi & Puthod is one of the leading Tuscan wineries for the production of high quality wines. Founded by Enrico Teruzzi, Carmen Puthod and their son Angelo, they were able to perfectly integrate technology and oenology traditions over the past thirty years, producing wines that are appreciated the world over, such as the well-known Vernaccia of San Gimignano. Today the company sells its wines in more than twenty countries, with a strong presence in Germany and the US.

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