Clessidra Sgr has finalised the acquisition of a majority stake in Botter SpA, a Venetian company among the world’s leading exporters of Italian wine owned by the Botter family and IDeA Taste of Italy fund, managed by DeA Capital Alternative Funds.
The Botter family will support Clessidra in this transaction by reinvesting in the company, continuing to play a key operational role, while ensuring management continuity. Italmobiliare and Capital Dynamics, investors in Clessidra Capital Partners 3 fund, will take part as co-investors in the deal. IDeA Taste of Italy has yielded its entire stake.
Founded by Carlo Botter in 1928 in Fossalta di Piave (Venice), the company bottles and markets various types of wine, still and sparkling. Since the 1950s, the company has achieved a constant growth in the marketing of bottled wines, through organic growth in Italy and international expansion. The company’s growth has been sustained thanks to the strong positioning on some of the most successful Italian Denomination of Origin at international level, such as Prosecco Asolo DOCG, Pinot Grigio Friuli Grave DOC and Primitivo. In 2020, Botter reported revenues of approximately EUR230 million, a 6 per cent increase compared to 2019, notwithstanding the Covid-19 pandemic crisis. The multi-territorial approach in the origin of wines still characterises its commercial offering today. Botter exports 98 per cent of its production, mainly to the USA, Germany, the UK and Scandinavian countries.
Clessidra’s investment has also been eased by Botter’s competitive positioning, as well as its internationally oriented approach favoured by a vast and diversified choice of denomination and highly praised labels in key markets for the export of Italian wine.
Read more/Source: Private Equity Wire
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