Italian Wine Brands flies by 7% with Enoitalia acquisition, for Equita “strategically appropriate operation”

Sprint start for Italian Wine Brands (IWB) in Piazza Affari. The stock rises by more than 7% following the announcement of the signing of the agreements for the acquisition of 100% of the capital of Enoitalia, one of the main Italian wine producers with approximately 111 million bottles sold in 2020, an export share equal to over 80% of turnover. An operation that allows IWB to become the first private group in Italy. For Equita, which confirms the buy recommendation on IWB, “the transaction is strategically appropriate and value accretive”.

In particular, the analysts of the Milanese SIM point out, the operation allows IWB to strengthen the prosecco offer; diversify the geographical presence, in particular towards the UK and the US; diversify the customer base, also adding a presence in the Horeca channel and finally strengthen the production structure. “Enoitalia operates through two factories that we think will allow IWB to internalize a larger portion of the production activity (today about 1/3)”, still report from Equita which specified that it plays or has played in the last 12 months the role of placing agent in the public offer concerning financial instruments issued by Italian Wine Brands.