Italian private equity Clessidra buys majority of Mondodelvino wineries

Italian private equity firm Clessidra said on Monday it bought a majority stake in wine group Mondodelvino after recently acquiring its bigger rival Botter.

The fund aims to create the biggest private player in the Italian wine sector, with some 350 million euros in revenues, in a very fragmented market which has recently attracted interest from private equity firms.

Mondodelvino, headed by the Martini family, reported 120 million euros in revenues last year. The value of the deal was not disclosed.

Clessidra Group is today one of the main financial players in Italy, with operations encompassing alternative investments, asset management and factoring through a diversified products and services offer for institutional investors and Italian medium-sized companies.

Source: Nasdaq