Investors poured more money into wine industry. From fashion and Formula1, Benetton Group has become major shareholder in the Abruzzo winery La Farnese. The entrepreneur’s private equity group, 21 investimenti, aims to double company’s annual profit from 50 million to 100 million euro within five years. It is planned to retain focus on export market such as Canada and Japan. “Our goal will be to widen the distribution channel where we have already present and to expand to emerging market including South America and Indonesia” added Mark Moris, the managing partner.
It is not known how much Benetton paid the deal. Founders Valentino Sciotti, Filippo Baccalaro and the Iuliius family will retain 62.63 per cent of the business. Establish in 1994, the company produces 11 million bottles annually and 15 different wines. It have been experienced a huge accelerate in the international expansion in recent years.