Stock Spirits buys grappa distillery in Franciacorta for €26.5m

Stock Spirits has acquired Distillerie Franciacorta in Italy, one of the country’s leading producers of grappa and liqueurs, along with its Franciacorta sparkling wine brand.

Distillerie Franciacorta SpA in Franciacorta, in the Lombardy region of Italy.

Stock Spirits is acquiring the entirety of Distillerie Franciacorta’s spirits and liqueurs business, which include the Grappa Chardonnay di Franciacorta, Grappa Amarone Barricata and Grappa Barolo Invecchiata brands, together with land for the construction of a new production facility.

The deal will also see Stock Spirits acquire the distillery’s Franciacorta wine brand, La Santissima Franciacorta, although all aspects of the winemaking will be retained by the former distillery owner.

As part of this transaction, Stock Spirits will also take a long-term lease of the historic Borgo San Vitale site – the distillery and visitor centre that is part of Distillerie Franciacorta’s heritage.

Stefano Gozio, a shareholder of Distillerie Franciacorta and a member of the founding Gozio family, will continue to act as a brand ambassador and consultant to Distillerie Franciacorta.

Mirek Stachowicz, chief executive of Stock Spirits, said: “This is a truly compelling opportunity that we have been looking at for more than a year now, and we see clear and attractive synergies with our existing Italian operations. Distillerie Franciacorta’s deep expertise in local, premium products resonates strongly with Stock Spirits’ wider strategy of investing in well-loved national brands with genuine and high quality provenance.

“This is our first step in pursuing in-market consolidation opportunities in Italy, and Distillerie Franciacorta will strengthen our position in what is a fragmented but highly attractive market for us.”

Stock Spirits have agreed to pay a total of €23.5 million for the business and a further €3m for the land, payable in cash in three tranches: an initial payment of €3m upon signing, a further €21.5m payable on completion, as well as €2m deferred payable over a four-year period. Completion is expected in the second quarter of the year.

Stefano Gozio of Distillerie Franciacorta added: “Mirek and his team at Stock Spirits have made it clear that they will nurture and grow the Franciacorta brands, and that they realise the importance of maintaining production locally. We are thrilled to be joining their operations, and look forward to an exciting new chapter for everyone associated with Distillerie Franciacorta.”

Founded in 1901, Distillerie Franciacorta is located in Franciacorta, in the Lombardy region of Italy.