ITALY: Brown-Forman in Bolla winery sale talks

By | 20 July 2006

Brown-Forman is in talks to sell its Bolla winery in Pedemonte, Italy to Italian wine group Gruppo Italiano Vini (GIV).

Brown-Forman said yesterday (19 July) that the two companies were discussing a deal that would see GIV buy the Bolla winery and produce and sell wine back to the company. The US wine and spirits group would retain ownership of the brand.

Paul Varga, Brown-Forman's CEO, said the company was looking to gain a flexible arrangement for sourcing wine for the Bolla brand.

"If these negotiations are successful, we will be able to source high quality wines from GIV, improve our cost structure, and position Bolla for improved performance," Varga said.

Brown-Forman said it expected the talks with GIV to reach a conclusion "within 90 days".

Sectors: Spirits, Wine

Companies: Brown-Forman

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