Campari's wine brands receive interest from China - sources
Campari [CPR IM], the listed, Italian drinks company, has received interest from China for some of its wine division assets, this news service has learned. In the fall fall, this news service reported that Campari mandated Mediobanca to sell its wine division which included Sella & Mosca, Terruzzi Puthod and Enrico Serafino.
Several Chinese wine producers have made inquiries to Campari and the assets could be sold separetly, several sources familiar with the situation said.
Interested bidders could include Changyu Group Co, the biggest and the most centuries-old wine producer in China, Dinasty Fine Wine, an investment holding company, that produces and sells grape wine products primarily in China and Hong Kong, as well as Chinese food producer Bright Food, two of the sources said.
The Chinese conglomerate Cofco could be especially interested in acquiring the Campari’s wines division, as it aims to make International investment and sell globally-sourced wines under their winebrand Great Wall, they both noted.
Sella & Mosca, the biggest of the three assets, and Terruzzi would be valued around 3x sales, the second source said, recalling that Sella & Mosca and Terruzzi generated revenues of around EUR 30m and EUR 5m, respectively.
Mediobanca was not available to comment. A Campari spokesperson said the company does not comment on market rumors.