Italy: Caffo Group to buy Valle Talloria site from Italian Wine Brands

Italian Wine Brands has announced that its subsidiaries, IWB Italia and Giordano Vini, have signed a binding offer with the Caffo Group to sell the Valle Talloria (Diano d’Alba) business unit.

As part of the agreement, the Caffo Group will transfer production operations and the historical archives of the Cinzano brand to this business unit.

Commenting on the news, IWB Group said: “We are delighted with this agreement undertaken with the Caffo Group, which, if finalized, will lead to the new development of the Valle Talloria asset, while also enhancing the local area with a world-renowned brand”.

A Caffo Group spokesperson added: “The new Home of Cinzano Vermouth and Sparkling Wine could be born in Diano d’Alba, in the Talloria Valley, in the heart of the Langhe, a UNESCO World Heritage Site”.

“Today, Cinzano is distributed in over 100 countries, and this project represents an extraordinary opportunity to relaunch the production site and strengthen the link between Piedmontese tradition and international development”, they added

The transaction is subject to the finalisation and signing of definitive agreements, with the transfer expected to take place by the end of the year

Source: Italian Wine Brands