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Clessidra Private Equity acquires Mondodelvino group

After the investment in Botter, Clessidra Private Equity Sgr, on behalf of Clessidra Capital Partners 3 fund, finalised the acquisition of the majority stake in Mondodelvino, an important Italian wine group considered an excellence in the market, guided by the Martini family who founded the company, together with Roger Gabb and Christoph Mack in 1991.

As for the Botter family that reinvested in the group and continues to hold managerial roles, the Martini family will remain the shareholders of the company and will continue to take important managerial positions together with the top management team, ensuring managerial continuity.

Mondodelvino is characterised by a steady growth for over three decades and is now one of the top twenty Italian wineries and top ten private ones. The group continued to develop despite the pandemic with an increase in revenue of over 6 per cent, equal to EUR120 million, the majority (90 per cent) of which in the United Kingdom, Germany, Nordics, Canada and Russia. With the MGM Srl, the group’s main company and important wine estates such as Cuvage, Ricossa, Poderi dal Nespoli and Barone Montalto, Mondodelvino group represents a benchmark in the wine market, especially in quality, innovation and sustainability.

This investment strengthens Clessidra’s consolidation project in the wine sector, in which Mondodelvino represents a further step for the establishment of an Italian leader in the market. Taking into account the two portfolio companies, the resulting group will become the first private provider in terms of revenue with EUR350 million in 2020. Additionally, both companies have high level of complementarity in terms of wine and markets.

Andrea Ottaviano, CEO of Clessidra, says: “After closing the acquisition of Botter, we kept looking for companies that would fit our project to create an Italian leader in this market. Mondodelvino is perfectly compatible with our strategy, thanks to its competitive position, international orientation, wine and brand offer. We would also like to thank the Martini family and the rest of their top management team for sharing and supporting our project.”

Francesco Colli, Managing Director of Clessidra, adds: “Clessidra aims to enhance the specific strengths of both Mondodelvino and Botter, preserving their respective identities and, at the same time, ensuring a group coordinated management. The new group will be led by Massimo Romani, current CEO of Botter, who will also take on the position of CEO of Mondodelvino”.

“We are very pleased that Clessidra chose to include Mondodelvino in this project – the Martini family commented – We value and appreciate Clessidra as a partner to accelerate our growth, whilst being able to preserve our founders’ values. We would like to thank our associates Roger Gabb and Christoph Mack for their precious contribution for the past 30 years towards the company’s success. We are confident that Clessidra and their team will support us in this journey, as with the Botter family”.

Even the Botter family commented on this transaction: “We are very happy that the Martini family and Mondodelvino have decided to join the project launched by Clessidra with us. The new group in which we have invested will represent a benchmark for the Italian wine sector. Additionally, it will be able to rely on two companies with a strong competitive position in the main international markets and a relevant strategic complementarity”.

Clessidra’s investment team was led by Managing Director Francesco Colli and involved Investment Director Giulio Torregrossa and his Associate Jacopo Tortorelli.

Houlihan Lokey acted as Clessidra’s financial advisor for this transaction, with the support of law firms Gattai, Minoli, Agostinelli & Partners and MN Tax & Legal for the legal aspects, E&Y for financial due diligence, PwC as debt advisory, Bain & Co for business due diligence and Alonzo Committeri & Partners for tax matters and structure. Mondodelvino was supported by Ceresio Investors as financial advisor, coordinator of this transaction on behalf of the sellers, Carnelutti — Studio Legale Associato for legal aspects and Rubini Consulenti Associati for tax matters.

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